In Series 2, Episode 1 of the #TVLawyer Podcast, Melinda Giles speaks to fellow Giles Wilson Partner and Private Client specialist Caroline Woodham about the changes to Inheritance Tax law after the Autumn Budget 2024 was announced in November.
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With Powers of Attorney you are giving power to someone to make decisions about everything about you if you don’t want to or can’t make those decisions yourself.
Anyone of the above is able to help advise in the first instance; pick up the phone and call 01702 477106 if you need to speak to a family lawyer.
If you are thinking about buying a property next year, it is worth considering doing so before the deadline of 1 April but you will need to start looking and instructing your solicitor now!
The guidance from HMRC confirms that each person can make as many ‘small gifts’ at Christmas as they like. HMRC defines small gifts as those where the value is £250 or less per person.
A divorce is difficult for a family to navigate through, but it can be especially hard when there is a child that has been diagnosed with a neurodivergent condition.
It is human nature to think “it will never happen to me”, but it is a sad fact of life that an increasing number of us may, at some point, have a loved one that may go into a residential care home or require care and support in their own home. This may be due to illness, old age or perhaps as the result of personal injury or an accident, and it often happens at the most inconvenient of times.
The headlines around inheritance tax following the budget were noisy on how farmers will be affected, on pension pots and on the fact that there is no rise on the nil rate band in the near future. However, in the small print there is an important change: that is the amount of interest charged on unpaid tax liabilities.
Our Managing Partner Melinda Giles helps younger listeners understand the law around someone passing away in her appearance on the Kids Law podcast.
There is definitely speculation about potential changes to IHT. We have not seen major change since 2017. But what could happen now?
Capital Gains tax does not just apply to properties, but also to shares not held in ISAs, parcels of land, holiday homes, works of art, jewellery and digital assets (ie cryptocurrency etc).
Have you thought that one day, when the time comes, you would like to keep your parents’ home in the family? Perhaps live there yourself? Even bring up a family there? You may even have had conversations with your siblings about how one of you would buy out the others. If this is something you are thinking about – you need to start planning now.
The Act brought in a form of protection to the leasehold flat by a Certificate Scheme but unless these certificates are granted at the right time, and in the right way, the protection can be lost. It is crucial that the correct Certificates are in place if you want to sell your leasehold flat, or if you wish to buy one.
A progressive firm must be just that i.e. developing and looking towards the future. In GW’s view this must factor in considering our environmental impact (particularly with the vision to support future generations of clients!)
Awards & Recognitions
The expertise of our solicitors is regularly recognised by some of the profession’s most distinguished organisations. As well as being a member of a number of Law Society schemes, we have won awards at the Law Society Excellence Awards, the Halsbury Legal Awards and the Modern Law Awards.
We have also received recognition in the form of the Lexcel mark of quality, a Legal 500 listing and a place on the shortlist of The Lawyer’s Boutique Firm of the Year.
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