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inheritance tax

Inheritance: Why passing it further down is a good plan

May 4, 2017

A survey by insurer Royal London says £400 billion ($515 billion) in private hands is waiting to be passed on and the research also discovered those holding that wealth have different views to those who are (or are not) expecting to receive it, says Jeremy Curtis, partner in the Private Wealth team at Pemberton Greenish.

Generation skipping–something for a long time heavily taxed in the US–is now in vogue.

Estate of play: Do trusts have a role in international estate planning?

March 14, 2017

Most people, when they think about trusts, immediately associate them with tax planning. Although controlling exposure to tax may be one reason why people use trusts, they have many other uses, as Robert Brodrick, trusted adviser and partner at Payne Hicks Beach, explains.

Business property relief a benefit in family succession says Wilsons

February 20, 2017

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

British family business leaders are being encouraged by a UK private client law firm to consider the benefits of business property relief in succession planning and as the Inheritance Tax net widens.

Wilsons, based in London and Salisbury, warned the number of UK estates liable for Inheritance Tax was forecast to rise by 15% to 30,000 in the tax year ending 5 April, 2017, up from 26,000 estates in 2015/16.

Commentators predict tax cuts, death tax axe and recession after Trump victory

November 11, 2016

US family business leaders are searching for silver linings from the presidential election of Donald Trump, just as their British counterparts are doing with Brexit.

US family business leaders are searching for silver linings from the presidential election of Donald Trump, just as their British counterparts are doing with Brexit.

UK Budget: Non-dom change threatens ‘mass exodus’, boosts UK as family office centre

July 10, 2015

UK government proposals to abolish permanent non-domiciled status and reduce the status timeframe to 15 years could lead to “a mass exodus of older money”, a private client lawyer predicts.

UK government proposals to abolish permanent non-domiciled status and reduce the status timeframe to 15 years could lead to “a mass exodus of older money”, a private client lawyer predicts.

Ashley King-Christopher, private wealth and family office partner at Charles Russell Speechlys, said the change to the non-domiciled status was “a surprise that is going to be unhelpful for older money”.

However he added that corporation tax changes could boost the attractiveness of London as a family office centre.

Law firm warns of UK impact from German IHT ruling

December 22, 2014

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

German family businesses could face “tremendous difficulties” under new tax ruling

December 17, 2014

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family business illegal and unconstitutional.

Germany’s highest court has this morning ruled a 2009 law that provides tax breaks and exceptions on inheritance for the country’s family businesses illegal and unconstitutional.

The Federal Constitutional Court said the law violated the principle of fair taxation as it provides special treatment to some companies.

But family business advocates say the new ruling could unfairly disadvantage firms that are family owned, compared to competitors that don't face inheritance tax bills.

Samsung third gens could face €5bn inheritance tax

June 9, 2014

Succession at Samsung – South Korea’s largest family-owned conglomerate – could prove costly for the third generation, with analyst estimates putting the potential inheritance tax bill at almost €5 billion.

Analysts have been speculating about the future of the company following the hospitalisation of second-generation chairman Lee Kun-hee last month after a heart attack.

Report finds wide variance on European succession tax treatment

May 14, 2014

Basing a family business in Cyprus or Poland instead of Denmark or France could significantly alter the tax burden on the next generation following succession, according to new analysis released by KPMG and European Family Businesses.

Gauke: UK govt won’t remove inheritance tax relief for family businesses

February 8, 2012

The British government doesn’t plan on changing inheritance tax support for family businesses, despite a recent report from one of the country's top universities recommending the removal of business property relief.