When you purchase a property in the UK a tax or duty is payable to HMRC. Known officially as stamp duty land tax (SDLT), this is a tax that was significantly changed from its predecessor, Stamp Duty. The UK government renamed and relaunched the tax in December 2003 and displayed the new rules and rates…
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A short answer to the question “Do I have to pay inheritance tax on my parent’s property” is yes. You have to pay inheritance tax in the UK for your parent’s house, and families often question why they have to pay taxes on property and estate that is theirs. During a lifetime, one will pay…
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A trust is a safe, some say impenetrable structure, that provides a secure platform to house your investments. It offers the assets placed within protection against all manner of eventualities, especially if you establish your trust in Hong Kong. ‘Asia’s World City’ is a highly regulated jurisdiction and has a favourable taxation regime, making Hong…
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The rules around UK inheritance tax, who pays it, how much they pay and when it is paid, is an intricate and sometimes confusing subject. When your loved ones pass away, they intend that their accumulated wealth goes to you. The UK IHT regime is such that the estate of a deceased person is assessed…
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There are a few types of trusts, and each type has its own advantages and disadvantages, which you should discuss thoroughly with Soteria Trusts advisor before setting one up. Bare Trust The person who sets up a Bare Trust (the Settlor) should be certain that the assets they set aside will go directly to the…
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A Trust is a mechanism whereby one person (the ‘settlor’) may give away the enjoyment of assets to a group of individuals (the ‘beneficiaries’), while control and decisions on the administration and investment of those assets lie with others (the ‘Trustees’). The Settlor is the person who provides the assets of the trust. Unless he…
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