25 results found

The Telegraph has been inundated with letters from families swept up in a nationwide crackdown on second homes.

Probate delays, now affecting 65% more cases since 2021, significantly impact bereaved families. Partner Jo Summers TEP shares strategies on BBC's Rip Off Britain to mitigate delays, emphasizing professional legal advice and proactive estate planning solutions.

This week (3rd - 9th March ) is Update Your Will Week, an awareness campaign spearheaded by The Association of Lifetime Lawyers (ALL).

Probate delays have decreased, with applications taking an average of 9.3 weeks in July 2024, down from 14 weeks in 2023. Digital applications have risen, but experts note ongoing backlogs and challenges with complex cases.

New rules on Employee Ownership Trusts (EOTs) restrict former owners' control post-sale, mandate UK-resident trustees, enforce market-value share sales, and extend the vendor clawback period. These measures strengthen EOT governance and enhance their appeal for business succession.

The 2024 UK Budget replaces the non-dom regime with a four-year foreign income and gains (FIG) tax exemption, requiring increased disclosure. Critics argue the new rules may deter wealthy immigrants due to limited benefits.

Jo Summers of Jurit LLP highlighted significant probate delays to the Justice Committee, citing understaffing, digitisation challenges, and extended wait times, while recommending systemic improvements for faster processing.

Jo Summers, Partner at Jurit LLP, highlighted on Radio London how delays in probate, required to access deceased assets, are causing financial and emotional distress, exacerbated by the need to pay inheritance tax upfront.

STEP, the professional body for trust and estate practitioners, has welcomed the government's response to probate concerns and commitment to tackle probate delays.

In recent months, several City law firms have announced eye-watering increases to the salaries of fresh-faced newly qualified solicitors.

Having a competitive edge is, according to any good marketer, vital for business success. Not only does it help to set you apart from the competition, it will allow you to attract customers or clients, and drive...

It is, perhaps, a little trite to say that businesses need to ensure that they have effective and enforceable restrictive covenants in place to deter employees from stealing confidential information.

It has become more expensive to pay people and we've got more people being dragged into higher rates of income tax, as well as having higher national insurance.

In 2023, HMRC's criminal case values surged to £6.2 million, driven by a focus on serious fraud and mini umbrella companies. This has intensified pressure on the First Tier Tax Tribunal, likely increasing case delays and highlighting the need for businesses to reassess their structures and seek legal advice.

The UK's Autumn Budget abolishes the domicile concept, introducing the FIG regime for taxing foreign income and gains starting April 2025. This affects non-doms, offshore trusts, and tax liabilities for long-term UK residents, with significant compliance implications.

The Worker Protection Act 2023 enforces a duty on UK employers to prevent workplace sexual harassment, requiring updated policies, reporting procedures, employee training, and risk assessments. However, it lacks third-party protections, prompting further potential legislation.

The UK's Autumn Budget eliminates the domicile concept, shifting IHT liability to long-term residents, effective April 2025. This change affects offshore trusts and introduces an 'IHT-tail' for those leaving the UK, broadening tax implications on worldwide assets.