Today, we consider a topic that is uncomfortable for some and even taboo for others. It’s a topic that we see and hear about every day of our lives and an event that happens to everyone at some point. Some modern-day philosophers say only three things are ‘guaranteed’ in this life: death, divorce and…
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Learn about the tax and residency rules and considerations for UK retirees abroad. Find out how to minimize taxes on pensions, navigate capital gains tax, plan for wealth tax, and prepare for any inheritance tax liabilities that arise. Choose a country with a low or favourable tax regime as your retirement destination whenever possible. Discover…
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Inheritance Tax (IHT) is not a popular topic of conversation, but it’s an essential one. IHT is a tax that applies to people’s assets when they die, and if you’re not careful, it can significantly reduce (40% after allowances) the value of the assets you leave behind for your loved ones. Unfortunately, just under half of…
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Are you aware of the latest ruling from HM Revenue & Customs regarding Inheritance Tax (IHT) and domicile? In the recent decision, HMRC brought a court claim against an individual they believed had wrongfully listed their father’s domicile as being outside of the United Kingdom to avoid paying IHT. All those paying or expecting to…
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It’s common knowledge that setting up an estate plan while you are alive allows your wishes to be easily followed after death. What isn’t commonly discussed, however, is how Lasting Powers of Attorney can provide peace of mind during your lifetime. These particularly important documents apply only whilst you are alive and are totally separate…
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Writing a will is an important part of ensuring that your assets and belongings are properly distributed after passing. It can be a daunting and overwhelming task if you don’t have all the necessary information—but it’s also one of the most crucial steps for ensuring that your loved ones are taken care of in the…
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Are you familiar with estate planning? Whether this term is new to you or something that’s on your radar already, the reality is that it’s an important concept for anyone, especially if you have young children and other loved ones, as well as assets of a reasonable value. Creating an estate plan doesn’t have to…
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When an individual passes away unexpectedly without a valid Will, their possessions and overall estate becomes subject to a set of rules known as the “rules of intestacy”. While these rules are set with logic to ensure the closest family members receive the bulk of the estate, it may not reflect one’s actual wishes. So,…
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It’s no secret that the inheritance tax threshold hasn’t been changed in years, ultimately leaving ordinary families with a large tax to pay. But what you may not know is that this number is only going up – and fast. More families fall into the Inheritance Tax net HMRC data shows that an increasing number…
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UK wealth taxes are taxes levied on the value of an individual’s assets. This includes property, savings, and investments. They are designed to prevent large concentrations of wealth from being passed down through generations, but also to fund public services such as healthcare and education. These taxes can be controversial because it can be difficult…
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