Protecting your interest in a property with a Declaration of Trust

When more than one person owns an interest in a property, they need to consider how they want to hold it. There are two ways in which a property can be held, as follows:- Joint tenants – all co-owners own 100% of the property together. There are no separate shares, and if one owner dies […]

The Residence Nil Rate Band: passing on the family home free of Inheritance Tax

From 6 April 2017 a new Inheritance Tax allowance called the Residence Nil Rate Band (RNRB) will be available to anyone who leaves a residential property or an interest in residential property to their descendants or to the spouses or civil partners of their descendants in their will.

Tax planning for farming families

Ashley Wallace-Cook, Wills, Trusts and Probate Director at WSP Solicitors Gloucester

Agricultural solicitors regularly see cases where IHT relief is being lost unnecessarily due to a lack of correct planning. A review of the farming business and its ownership structure may do much to improve the position. Read more here.