With Watson Burton LLP Law Firm
In order to minimise inheritance tax ("IHT") payable by an estate, lifetime transfers are commonly used. These are transfers of an asset, either directly to an individual, or into a trust.#Lifetime transfers are either immediately chargeable at 20% ("LCTs"), or are potentially exempt ("PETs"). If the donor survives the seventh anniversary of the gift, the gift will attract no further IHT. If the donor dies between three and seven years, a proportion of the full rate is taxed. Someone considering making lifetime transfers should realistically think about their chances of surviving seven years. If it is unlikely, then other options should be explored.
With Watson Burton LLP Law FirmThe current economic climate has generated much heated discussion amongst experts in the financial sector. The insurance industry is no exception, and the effect will be especially hard felt by those professional services firms…
With Watson Burton LLP Law FirmProspects are gloomy for the rest of 2008 and 2009 within the construction industry we are being told. It is expected that the situation will not improve until 2011. Uncertainty and tension due to…
With Watson Burton LLP Law FirmFor the increasing number of companies looking to make redundancies as a consequence of the downturn in the economy, the case of Rolls Royce Plc v Unite the Union [2008] EWHC 2420 will be…
With Watson Burton LLP Law FirmThe Secretary of State for Business, Enterprise and Regulatory Reform (Secretary of State), will not refer the acquisition of HBOS by Lloyds TSB to the Competition Commission. The decision was made despite the Office…
With Watson Burton LLP Law FirmWhat is the position where a company has suffered a direct loss through fraud perpetrated by one of its agents? Furthermore, what is the position where the company was audited during the relevant period…
