Which? survey suggests banks are failing bereaved relatives
A report from Which? alleges that banks' services to the relatives of a deceased account holder have become less efficient during the COVID-19 pandemic.
HMRC’s Acceptance in Lieu scheme allows art and items of cultural significance to be transferred into public ownership in lieu of an Inheritance Tax or Capital Gains Tax liability. Works of art and historical items donated under the scheme are distributed among museums and galleries that are open to the public.
The 2019/20 Report, prepared by Arts Council England, highlighted the record £64.5 million worth of art and other items of cultural significance which were donated to museums and galleries in lieu of Inheritance Tax and Capital Gains Tax liabilities. These included a portrait by the impressionist painter Édouard Manet, etchings by Rembrandt, and a collection of antique pianos.
The scheme was used to settle £40 million worth of Inheritance Tax and Capital Gains Tax in 2019/20 – a tax saving which benefits not only the donors’ estates, but also the general public who gain access to items of cultural significance which might otherwise have remained in private collections.
If you would like to speak to a solicitor about Inheritance Tax or Capital Gains Tax, please contact Kerri Woodrow or Katherine Hague.
A report from Which? alleges that banks' services to the relatives of a deceased account holder have become less efficient during the COVID-19 pandemic.
On 19 February 2021 the Supreme Court (SC) handed down its decision in Uber BV v Aslam & Others, reaching the same conclusion as earlier courts that Uber drivers are ‘workers’ and not self-employed.
The presumption in favour of sustainable development can apply when the development plan policies which are most important for determining the application are out-of-date (per paragraph 11(d) NPPF). The recent case of Ewans v Mid Suffolk District Council [2020] has confirmed that such ‘out-of-date’ assessment of a policy can be site specific.
Non-residents selling property in France must, subject to a limited number of exemptions, appoint a fiscal representative. UK nationals have previously benefitted from a blanket exemption but this has been withdrawn following the UK’s departure from the EU.