Private Client Library

  • Accessing Your Own Land

    Prior to the introduction of revised procedures (set out in regulations under section 68 of the Countryside and Rights of Way Act 2000 , which came into effect in July 2002), people who had to cross common land in order to reach their homes were sometimes...

  • Acquisition of land can have unforeseen consequences

    A family who inherited land were also held to have inherited an obscure ancient liability, which ended up costing them dearly, after a recent decision by the House of Lords. When presented with a bill for £95,000 for repairing the chancel of their...

  • Are You a Sophisticated Investor?

    In March 2005, the rules relating to approaching people regarding financial promotions were relaxed so that so called ‘sophisticated investors’ and high net worth individuals (HNWIs) could be more easily approached with a view to making...

  • Asset Valuation Problems - Chattels

    When dealing with an estate, an increasing problem for executors is the valuation of assets in the form of the chattels of the deceased. In probate terminology, chattels are the ‘everyday’ assets such as furniture and ordinary possessions, as...

  • Avoiding Inheritance Tax with Discounted Gift Schemes

    Inheritance tax (IHT) is payable at 40 per cent on the net value of a person’s estate above (2009/10 rates) £325,000 (the current nil rate band). It affects an increasing number of people owing to the rise in house prices in recent years. One...

  • Buying Abroad - Considerations

    After another cold, wet summer and with dull economic prospects at home, you might be thinking of buying a property abroad or even making a permanent move to foreign climes. If so, as well as it being essential to take independent and high quality legal...

  • Buying a House and Consumer Protection

    With the advent of Home Information Packs (HIPs), the appointment of an Ombudsman for Estate Agents (OEA), the laying down in statute of the duties of estate agents and the recent passing of the Consumers, Estate Agents and Redress Act 2007 (CEARA), a...

  • CGT and Shares in Estates Valuation Trap

    In the UK, there are quite generous exemptions from Inheritance Tax (IHT) which apply to business assets. One problem with making use of such exemptions is the effect this may have on the subsequent value of the relevant assets for Capital Gains Tax (CGT)...

  • Capital Gains Tax for Owners of Two Homes

    Ownership of two homes in the UK is becoming more commonplace as couples who both own houses marry, houses are inherited, parents buy houses for their children to live in, or people just buy a place in the country, either to let or to escape to at weekends. ...

  • Changing Wills For Benefit

    A will expresses the final wishes of the deceased person and it is commonly thought that a will is irrevocable after death. However, provided everyone agrees, it is normally possible to vary a will provided that the application is made within two years of the...

  • Charity Donations Through the Tax Return

    From 2003-4 Self-Assessment Tax Returns have included a facility to enable individuals to donate some or all of any tax repayment to a chosen charity. Participating charities have signed up with the Inland Revenue and been allocated a unique code, which is...

  • Charity Trustees - Guidance

    The regime governing charities has been progressively tightened up over the years, making the sort of scandals that were once not uncommon much more of a rarity. This means that trustees now have to adopt a more professional attitude to the management of a...

  • Check Your Home Insurance Policy

    Increasing numbers of people are spending substantial periods of time away from their homes on account of working away, having a second home or for any of a number of other reasons. Houses can also frequently be empty for substantial periods after the death...

  • Cohabitees and Death - Who Can Claim?

    When one member of a cohabiting couple dies, it can come as an unpleasant surprise to the bereaved partner to discover that not all of their late partner’s estate will pass to them in the absence of a will. It is only when this happens that many people...

  • Compensation for Loss of a Chance

    Most claims for damages are claims for damages or losses which have actually happened. For example, if a lorry mounted the pavement and smashed a garden wall, the claim would be for the cost of restoring the wall to its former condition. The law relating to...

  • Correcting Your Credit Rating

    Most people require credit at some time, whether it is in the form of a credit card, a loan or an overdraft. However careful you are, it is possible to find yourself blacklisted for credit purposes. When you apply for credit, the lender will apply to either...

  • Current Laws on Electrical Work

    Since 1st January 2005, all electrical work carried out in dwellings has had to comply with part P of the Building Regulations and be carried out by a person who is competent to do the work. All work which involves adding a new circuit to a dwelling needs...

  • Do Hurt Feelings Qualify for Compensation?

    A recent case has dealt with the question of whether damages for injury to one's feelings can be claimed as aggravated damages in normal circumstances. The case related to a Brighton couple who had a heated argument whilst on holiday in Barbados, to the...

  • Equity Release

    Managing an active retirement can present significant problems for the many people who are blessed with good health but cursed by the effects of the poor performance of pension funds and low annuity rates over the last two decades. This combination of...

  • Estates - What Happens if Values Fall

    One of the biggest problems now facing executors is that as the recession progresses, most assets, other than cash, are falling in value, which can mean that the value of an estate for Inheritance Tax (IHT) purposes is greater than the market value later on....

  • Fact Sheet - Disclosure to Mortgage Lenders of Incentives for Buyers

    This fact sheet provides guidance for those involved in the development of residential properties whether new builds or conversions of existing properties . On 1 September 2008, the Council of Mortgage Lenders (CML)  introduced new procedures in...

  • Fact Sheet - Disclosure to Mortgage Lenders of Incentives for Buyers

    This fact sheet provides guidance for those involved in the development of residential properties whether new builds or conversions of existing properties . As from the 1st September 2008, the Council of Mortgage Lenders (CML) has introduced new...

  • Falling Asset Prices and Inheritance Tax

    When an estate includes assets whose values can fluctuate, such as shares or property, a situation can arise where the value of an estate for Inheritance Tax (IHT) purposes is greater than the market value later on. This is currently one of...

  • Faulty Goods: Know Your Rights

    In the UK, customers have various rights in respect of faulty goods. The Sale & Supply of Goods to Consumers Regulations 2002 were introduced in the UK on 31 March 2003. These also apply to "non-retail" transactions, such as hire purchase...

  • Fiscal Help for your Student Children

    If you have children going away to university there are money saving options worth considering, if you are in a position to take advantage of them. The cost of accommodation is a financial burden for any student. If you can provide funds to buy a home near...

  • HIPs - Frequently Asked Questions

    Where can I find out more about the HIPs requirements? Here are some 'frequently asked questions' (FAQs) on Home Information Packs (HIPs). If you do have more questions, the website at www.homeinformationpacks.gov.uk has further information. These FAQs...

  • HIPs - Frequently Asked Questions

    Here are some 'frequently asked questions' (FAQs) on Home Information Packs (HIPs). These FAQs are based on information released by the Government on 1 August 2008.

  • HMRC Guidance on Tax Residence

      Following changes in the tax legislation governing the income tax payable by non-domiciliaries, and some relevant tax cases, HM Revenue and Customs (HMRC) have issued a  guidance booklet (HMRC 6) . This replaces the old guidance, which was...

  • Heir Hunters - Take Advice!

    Until the recent publicity afforded by television shows on the subject, many people might not have realised that ‘heir tracing’ companies exist, let alone that they research ‘promising’ estates by looking at public records and then...

  • Helping Your Executors

    Being an executor is a demanding job at the best of times and a task that is made all the more difficult when the deceased has not given proper thought to the problems their executors will face. Here are some of the things you can do to make sure your...

  • How Do We Set Up a Commonhold?

    Commonholds are a relatively new way of holding property and will be attractive to some flat owners who wish to take the ownership and management of the freehold of their block of flats out of a management company. They may also become increasingly common in...

  • How Drawdown Lifetime Mortgages Work

    For people who have money tied up in their homes who wish to release capital for expenditure, or possibly to give to family members, the drawdown lifetime mortgage (DLM) is a possible vehicle. A DLM is simply a mortgage, but one which is drawn down over...

  • How Inheritance Tax Works

    Inheritance Tax (IHT) is paid on your estate when you die and also when money is transferred into some trust funds. Some other transfers during one’s lifetime may also be subject to IHT. The first £325,000 (at 2009/10 rates) of the estate is...

  • How do I Leave Money to Charity in My Will?

    It's easy to include a charity in your will, but you should always consult your solicitor before you write or change your will  to be sure it reflects your exact intentions and that you understand its implications. Before you call your adviser, take a...

  • IHT Guidance From the Tax Man

    HM Revenue and Customs (HMRC) have issued useful guidance on the mechanics of the transfer of the unused IHT ‘nil rate band’ between spouses or civil partners and gives several examples. One important point for executors is that a claim to...

  • IHT Planning and the AIM

    In recent years, Inheritance Tax (IHT) has affected more and more families, largely due to rising house prices. IHT is payable at 40 per cent on the net assets of an estate where these exceed £325,000 – the current (2009/10)  nil-rate band....

  • Keeping Your Identity Safe

    With the practice of fraud by impersonation becoming ever more frequent, clients are advised to take precautions to prevent being taken for a ride by thieves. Sorting out the problems caused by impersonation fraud can be an arduous and stressful procedure....

  • Lasting Powers of Attorney

    In October 2007 there was a fundamental change on the way in the way powers of attorney are created and the powers that they can give attorneys, when the Enduring Power of Attorney (EPA) was replaced by the Lasting Power of Attorney (LPA). EPAs are no...

  • Leaseholders' Right to Manage

    Since 2003 qualifying leaseholders have had the right to take over the management of their block of flats from their landlord, under provisions made under the Commonhold and Leasehold Reform Act 2002 . Leaseholders who take advantage of this right have more...

  • Meeting Long-Term Care Costs

    One of the often forgotten issues in retirement planning is the possibility of having to fund long-term care at some future time. Such care is means-tested and most care home residents of means will pay in full for their care. With an ageing population and...

  • Mortgage Exit Administration Charges - Consumer Redress

    When you ask for a redemption statement from your mortgage lender, it can come as an unpleasant surprise to see an additional charge termed ‘mortgage exit administration fee’ (MEAF), which, while it will be shown in the mortgage offer letter, is...

  • Mortgage Exit Administration Charges - Consumer Redress

    When you ask for a redemption statement from your mortgage lender, it can come as an unpleasant surprise to see an additional charge termed ‘mortgage exit administration fee’ (MEAF), which, while it will be shown in the mortgage offer letter, is...

  • Neighbours From Hell: Local Authority Powers

    The Housing Act 2004 contains a variety of measures designed to protect householders from the ‘neighbour from hell’, through measures targeting private landlords who turn a blind eye to disruptive behaviour by their tenants. The Act includes...

  • Ombudsmans Solution Proves Costly

    A solicitor who was unhappy with the decision of the Pensions Ombudsman found, to his cost, that the Ombudsman does have discretion in the remedy he orders. Richard Henderson was employed by a firm of solicitors which sent him to work at their office in Hong...

  • Paying For a Permanent Nursing Home Care Place

    Many people, as they grow older, worry about where they will live if they are no longer able to manage in their own home. For some, the need will arise for nursing home or residential care. Who will pick up this cost? Will you have to use your lifetime...

  • Phone Masts - The Law and Practice

    Although a very recent technological development, the mobile phone is considered a necessity by many people in the UK. However, despite their popularity, the communication masts on which the networks depend have been regarded, since their inception, as...

  • Protection from Unfair Selling Practices

    Britain has, for years, had strong consumer protection laws and further protection for consumers from unfair selling practices was introduced in the 2008 Consumer Protection from Unfair Trading Regulations . The UK regulations, implementing the  EU...

  • Putting Cash into a Family Business

    When younger members of a family start a business, they often ask other family members to provide part of the necessary capital. If you are approached to do this and are willing to provide funding, it is often difficult to know how best to provide the cash....

  • Risks for Trustees

    Being a trustee isn't just for professionals or people 'minding the family assets'. It is common for people from all walks of life to become trustees of local charities, schools and the like. Usually, the trust deed contains a clause which protects the...

  • School Bullying - Is the Tide Turning?

    Incidences of school bullying seem to be on the increase and the view is often taken that there is little or nothing that can be done about it. However, a Scottish case has given new hope to families whose children suffer at the hands of the playground...

  • Selling Your House and Land: Tax Tips

    Most people buy and sell the property they live in without any thoughts about tax (other than, perhaps, Stamp Duty Land Tax). However, there are some circumstances in which selling the property you live in can cause tax problems. Some of the main ones are: ...

  • Selling Your Property at Auction

    In recent years, increased mobility and growing rates of home ownership have meant that ever-larger numbers of people nowadays inherit properties from relatives who lived many miles away. Similarly, many buy-to-let properties have been purchased in areas...

  • Should I Buy To Let?

    With property values recovering and market returns for many investments quite modest, the buy to let market may seem an attractive proposition. In this article we look at some of the more practical, but less often mentioned, aspects of buy to let which...

  • Squatters Rights Not Illegal - European Court

    The UK's approach to 'squatters' rights' (known in legal circles as adverse possession) has been ruled to be lawful according to a ruling by the European Court. Under UK law, anyone who is allowed unopposed occupation of a piece of land for more than twelve...

  • Stamp Duty Land Tax: Beginner's Guide

    Stamp Duty Land Tax (SDLT) is a self-assessed tax. The onus is on the taxpayer to make the necessary land transaction return, calculate the tax and pay it across. This is a fundamental change from the old Stamp Duty regime which taxed documents of...

  • Start of Year Tax Planning

    The early months of the tax year are a good time for savers to think about tax planning for the current year. In particular, now is a good time to think about investments that produce regular income – if you can find them. If you expect to have a...

  • Tenants Right to Buy

    The right of secure tenants to buy their homes was established under the Housing Act 1980. The original rules have subsequently been amended, however, mainly owing to a growing number of abuses of the system. These mainly involved property speculators who...

  • The Duties of Mortgage Lenders

    The instability in the financial markets recently means lenders are taking a tougher stance on lending and repossessions are rising. When mortgage arrears are serious and/or there is a breach of the mortgage covenants, the lender will usually seek an order...

  • The Enterprise Investment Scheme

    Successive governments have recognised that the spirit of entrepreneurialism, though deeply ingrained in the UK’s culture, is not really very well supported by the financial institutions. In an attempt to provide more ready access to investment capital...

  • The Public Guardianship Office - Helping Those Who Cannot Help Themselves

    With increased life expectancy, it is becoming increasingly common for people to cease, at some point, to be able to manage their own affairs. The need to protect those who cannot protect themselves has never been greater. For example, do you know how you...

  • The Unclaimed Assets Register

    Many people have assets which they have forgotten about – old bank accounts, shares or premium bonds for example. If you think you or a relative may have lost track of some of their assets a search of the register (which costs £25) may be...

  • Timeshares - Good or Bad?

    Although there are millions of contented timeshare owners throughout the world, the timeshare industry has certainly had a chequered history. On the one hand there is the promise of golden weeks in the sun or on the slopes at a fraction of the cost of buying...

  • Treasure Trove - The Law

    There are countless stories of buried treasure, for example, the recent a huge find of Roman artefacts  unearthed in London, but the public at large know little of the law relating to treasure trove and especially the law relating to items...

  • Undue Influence A Clarification of the Law

    One of the defences against repossession of a house, where a secured debt or mortgage is not repaid, has been where the partner taking out the loan brought 'undue influence' to bear on the other partner. The leading case was a House of Lords decision (...

  • Unit-linked or With-profits: What's the Difference?

    If you’ve ever had a session with a financial planning adviser, you will have heard about unit-linked and with-profits investments, but what does the jargon actually mean in practice? Unit-linked Investments These put the sum invested directly into...

  • Unlocking Your Equity - the Choices

    There is a bewildering variety of equity release schemes on the market and, judging by the letters pages of the financial press, they are not well understood. Releasing equity in a house can be an effective way of supplementing your income or releasing spare...

  • What Happens on Intestacy?

    In spite of the best endeavours of the legal profession, as well as frequent blandishments in the press, a surprising proportion of people still die without having made a will. Some people, no doubt, think that provided there is no liability for Inheritance...

  • What Happens on Intestacy?

    The levels of statutory legacy (the amount that surviving spouses or civil partners are allowed to inherit if their spouse/civil partner dies without leaving a will)  were increased from 1 February 2009 to the following: • £250,000 (from...

  • What is Phased Retirement?

    Phased retirement is the term given to the process by which retirement pensions are split into segments, which are then treated separately. It makes use of the rule in the UK that allows a retirement policyholder to take each pension policy at a time of...

  • What is Taxable?

    With the Government seeing fit to make the Inland Revenue a payer of benefits (pension credit etc) as well as a collector of taxes, it is no wonder that people are becoming confused as to which sources of income are taxable and which are not. It is...

  • What is a Spouse?

    Under the Housing Act a spouse or civil partner has the right to succeed, in most circumstances, to an assured tenancy where he or she was cohabiting with the deceased  immediately before the death. Whilst that is all reasonably clear, the...

  • What is a Tenant's Improvement?

    The law allows any tenant (with some exceptions) who has lived in a property for more than three years under a lease of more than 20 years to apply to the Landlord to purchase the freehold. The purchase price is based on the open market value of the...

  • What is a Trust Fund?

    A trust comes into effect when a ‘settlor’ places money, land or other assets in the hands of trustees. The trustees are the legal owners of the property but are obliged to hold and manage the property for the benefit of a person or a group of...

  • When Can I Access My Neighbour's Land?

    Disputes between neighbours can cause a lot of unpleasantness. If you need to deal with your neighbours over matters related to land or property it is always advisable to try to get things done in a friendly way, whilst at the same time making sure you know...

  • When is a Package Tour Not a Package Tour

    We often hear of problems associated with package tour holidays and customers' attempts to gain compensation. It is important, therefore, to know what is and what is not a package tour for the purposes of working out who is responsible if things go badly...

  • Who Can Go Where?

    In England and Wales, the law relating to access to land position is governed by the Countryside and Rights of Way Act 2000 . In England and Wales, the public have the right to access what is called 'access land' – which is mainly registered common...

  • Who Decides Your Final Resting Place?

    One of the most common statements of wish in a will is a statement outlining how one’s remains should be dealt with. Many people think such a wish is part of the will per se and is binding on the executor, but this is not strictly the case. In law,...

  • Who is Under the Influence?

    The law recognises that some people (such as solicitors or accountants) have a high degree of influence over other people (their clients), since clients hire their professional advisers for the specific purpose of giving advice. However, it is not normally...

  • Year End Tax Planning Checklist

    Here is a quick checklist of things you should look at before the tax year ends on 5 April. It is not exhaustive and, of course, all financial planning should be done with proper professional advice. Ask before you act! Income Tax If one of a couple is a...
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