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The Kings Court Trust Blog

Keeping you up-to-date with Wills, probate and estate administration industry news

Inheritance Tax receipts decrease for the first time in a decade

In a recent report from HM Revenue and Customs (HMRC), it was shown that the amount of income generated from Inheritance Tax (IHT) decreased to £5.2 billion last year, which is a decrease of £223 million or 4%. This was the first decrease in a decade. The last decrease was seen in 2009/2010 when estate values took a hit following the global recession. Since then, the amount of tax paid rose annually at a steady rate of an average of 3% or £4,200 per estate.
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Grieving families face significant rise in probate fees

Government proposals unveiled this week could result in a hundredfold increase in probate fees for some families, reports The Financial Times.  The Ministry of Justice (MoJ) has published its plans to reduce the £1.1bn annual cost of running the court system by introducing a revised probate fees structure in England and Wales.
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The Emotional Stress of Dealing With a Bereavement

A recent article by The Telegraph has detailed the emotional stress that dealing with the death of a loved one can cause, including the anxiety of having to deal with the taxman when it comes to Inheritance Tax (IHT).
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The Risk of Miscalculating Your Inheritance Tax - You Could Be Branded a Criminal

Ordinary individuals inheriting assets from overseas could risk criminal charges if they miscalculate the tax owed, reports The Telegraph.
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Labour Makes Calls for Significant Changes to Inheritance Tax Laws

on Oct 1, 2015 9:00:00 AM By | Kings Court Trust | IHT Industry News Inheritance Tax
The new leader of the Labour party, Jeremy Corbyn, has called for significant changes to be made to Inheritance Tax (IHT) laws, arguing that regulations should be graded to make the process fairer.
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Can I Reclaim Inheritance Tax on my Father's Shares Now that the Value Has Fallen?

on Sep 22, 2015 9:00:00 AM By | Kings Court Trust | IHT Industry News Inheritance Tax
“If I am an executor to my father’s estate, and the shares have fallen 18pc since his death, will I have to pay inheritance on the value at his death, even though I will be selling them for far less?”
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Lower Inheritances Leading to More Disputes and Fraud Cases

on Sep 3, 2015 9:00:00 AM By | Kings Court Trust | IHT Industry News Inheritance Tax
The subject of inheritance has been in the news a fair bit recently, with some parents choosing to spend their savings rather than pass them down to their children or grandchildren. With 35% of Britons relying on an inheritance to provide them with a stable financial future, and 20% stating that they require an inheritance to retire comfortably, there is the potential for an increasing number of complications and disputes to arise.
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Bereavement Services - The Modern Approach to Supporting your Clients

The way in which we ‘consume’ services has changed considerably in the last decade or so. Many retail experts confidently argue that our expectations of service providers are now at an all-time high, with customers demanding access to a wide range of professionally delivered services every time they make a purchase. Does this theory apply to helping bereaved families as well? 
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Inheritance Tax Relief on Charitable Donations Leading to more Contested Wills

The Solicitors Journal recently published an article which claimed that an increase in the number of people leaving charitable donations in their Wills is leading to a rise in the number of contested cases.
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