Military personnel who die directly or even indirectly from injuries or diseases suffered during active service can claim full exemption from inheritance tax (IHT).
This is a little known loophole that probably few military families will know about.
Military people who die on active service are always exempt from IHT – but try finding out more information […]
Posted on September 27th, 2007 by Stephen
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The governement is considering making changes to a well known loophole in the Inheritance Tax (IHT) laws and rules.
During the past five years 72 per cent more people are paying Inheritance Tax with the government now receiving around £3.3 billion annually. Mostly this is due to house price increases bringing more people into the […]
Posted on September 24th, 2007 by Stephen
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The Mental Capacity Act 2005, which introduces Lasting Powers of Attorney that start on 1st October 2007, says that a guiding principal is that a person is regarded as having capacity unless it can be proved that they lack capacity.
A person is also not to be treated as lacking capacity just because they make decisions […]
Posted on September 23rd, 2007 by Stephen
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A pressing question often asked of the LSUK consultants concerns how a person can continue to live in a property after the owner has deceased. This often relates to a son or daughter or perhaps a brother or sister living with parents or siblings.
If, for example, a son has lived with his parents for […]
Posted on September 15th, 2007 by Stephen
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The Mental Capacity Act 2005 ends the old mental Health Act and the Enduring Powers of Attorney Act 1985 and confirms that the new Lasting Powers of Attonrey (LPA), which replaces the old Enduring Powers of Attorney from the 1st October 2007.
Enduring Powers of Attorney (EPA) completey signed and witnessed correctly before 1st October 2007 […]
Posted on September 10th, 2007 by Stephen
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Business assets must have been owned for two years prior to death to qualify for Business Property Relief. BPR.
A full explanation of BPR can be found at the governmentt’s Inland Revenue website www.hmrc.gov.uk, go to the section called Inheritance tax and then look for HMRC Inheritance Tax: Customer Guide and you’ll find a list of […]
Posted on September 6th, 2007 by Stephen
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Leona Helmsley, the New York hotelier and real estate billionaire has left $12m (£5.97m) to her pet dog, Trouble.
It’s the largest legacy in the will which also states that the dog is to be buried next to the lady, when the dog finally passes on.
She left her chauffeur $100,000, and $3m for the […]
Posted on September 4th, 2007 by Stephen
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