- Scale -v- Scarle - who died first? by Emma-Louise Green, Meridian. Judgment was handed down in the case of Scarle v Scarle HC-2017-002117 on 13 August 2019. The bodies of John and Marjorie Scarle were found at their home address on 11 October 2016. It was a second marriage for both of them. John had a daughter, Anna, and Marjorie had a daughter, Deborah from previous relationships. The issue in contention between Anna and Deborah was who died first. As all of their assets were owned jointly, if John had died first, Marjorie would have inherited his estate and, on her death, it would pass to her daughter, Deborah. If Marjorie had died first, John would have inherited his estate and, on his death, it would pass to his daughter, Anna.
- Inheritance tax relief for business assets - by Vicki Bennett, Meridian. The radical reform to our inheritance tax system has been mooted for some time now, possibly with the introduction of a new annual wealth or property tax. Regardless as to the ultimate outcome, it seems quite likely that the coming years will see changes to the current relief for qualifying business property which can provide an effective exemption from inheritance tax. Given that shares in a private company can be a relatively illiquid asset, the prospect of a 40% charge to inheritance tax on their full value is not attractive.
- Advance planning for emigration - by Natasha Smith, Meridian. More people talk about emigration for tax reasons than actually go ahead with it, and this is for good reason. The realities of the upheaval required and the necessity to emigrate to somewhere with a suitably attractive tax regime make it a very difficult decision. Nevertheless, it does seem that more people are seriously considering this option at the current time.
- Protected settlements for non-UK domiciled individuals by Jon Croxford, Meridian. The tax rules for non-UK domiciled individuals changed significantly in 2017 when new legislation brought them fully within the scope of UK tax once they have been UK resident for 15 years. As a quid pro quo, however, the concept of protected settlements was introduced.
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