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Changes to Intestacy

by | Nov 18, 2014 | ACCA, capital taxation, personal finance

The Inheritance Tax and Trustees’ Powers Act 2014 came into force on 1 October 2014. Its main provision is to alter the intestacy rules previously contained in the Administration of Estates Act 1925. These applied when a person had died without making a valid will....

Inheritance tax update

by | Jun 12, 2014 | ACCA, capital taxation

Recent developments in inheritance tax legislation and new guidance from HMRC have given rise to changes to the inheritance tax code.  Nil rate provision in legacy In the case of Loring v Woodland Trust, the transfer and use of Mrs Loring’s husband’s unused nil...