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Inheritance Tax interest rates continue to rise

on Aug 23, 2023 4:12:24 PM By | Nigel Merchant |
As Inheritance Tax (IHT) interest rates continue to increase, Personal Representatives face additional financial burden when settling a deceased person’s estate. The increased interest rates have been described as a stealth tax, substituting a rise in IHT rates.
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2022 in review

on Dec 7, 2022 3:35:08 PM By | Nigel Merchant |
This year has provided a lot of challenges and changes, both in general and within the probate and estate administration industry. This blog will summarise some of the key industry stories and updates that have been in the news in 2022.
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HMCTS changes: Inheritance Tax reporting for excepted estates

on Jan 26, 2022 1:19:16 PM By | Kings Court Trust |
HM Courts & Tribunals Service (HMCTS) has recently changed the Inheritance Tax (IHT) reporting requirements for excepted estates. The amendment made under The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021 applies to all deaths on or after 1 January 2022.
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Business and Agricultural Relief: What you need to know

on Sep 22, 2021 12:24:54 PM By | Kings Court Trust |
Due to the rise in estates that include a business or land/pasture used to rear animals, it is more important than ever to understand the reliefs available that may help reduce an Inheritance Tax (IHT) bill. In this blog, we explain the basics of Business Relief and Agricultural Relief, by explaining what they are, what can be claimed upon death, the process of claiming, and how you can best advise your clients.
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Inheritance Tax receipts decrease for the first time in a decade

on Aug 12, 2020 8:49:07 AM By | Kings Court Trust |
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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Civil partnership or marriage? Mixed-sex couples now have the choice

on Jan 21, 2020 9:56:55 AM By | Kings Court Trust |
It’s now official – heterosexual couples in England and Wales can formalise their relationship with a civil partnership rather than marriage. Civil partnerships were first introduced through the Civil Partnerships Act 2004 and was only available to same-sex couples . As of the 31st of December 2019, mixed-sex couples have been able to form this union. The amendment to the Act was made as a result of a Supreme Court ruling which confirmed that the Civil Partnerships Act 2004 was incompatible with the European Convention on Human Rights.
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What to expect in 2020

on Jan 9, 2020 10:49:14 AM By | Kings Court Trust |
It’s a new year and a new decade – Welcome to 2020! This time of year can trigger many feelings – optimism, reflection, uncertainty or all of the above. As we think back to some of the hot topics we followed throughout the year, we realise many are still relevant as we step into the new year.
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What to expect in 2019

on Jan 3, 2019 10:47:17 AM By | Kings Court Trust |
In our first blog post of 2019, we’re making our predictions on what could happen this year and the topics that we think will dominate the industry headlines. Read on to find out how increased probate fees, Inheritance Tax simplifications and Brexit could be some of the biggest stories in the year ahead.
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Inheritance Tax review to be published by the end of 2018

on Nov 8, 2018 9:08:00 AM By | Kings Court Trust |
There was much speculation that 2018’s Budget would include an update on the Inheritance Tax (IHT) review. Last week when the Chancellor of the Exchequer, Philip Hammond, presented the annual Budget, there was no mention of IHT. However, the independent Office of Tax Simplification (OTS) has now confirmed that the findings from their Inheritance Tax review will be published before the end of the year.
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