Murray Beith Murray

Blog

May 2017 - Laura Brown: Are You a Scottish Taxpayer?

The simple answer will be “YES” if you reside in Scotland and therefore have a Scottish address. Do you know there is a difference between the tax rate bands for a Scottish taxpayer and taxpayers from the rest of the UK?

May 2017 - Philip Buchan: Land Reform and Agricultural Holdings Update – May 2017

The Land Reform (Scotland) Act 2016 (“the Act”) was enacted just over a year ago on 22 April 2016. The Act is being brought into force in stages by secondary legislation. So far, five Commencement Orders have been made, implementing various parts of the Act and further Orders are expected this year and next.

April 2017 - Laura Brown: A Political Decision Which May Pay Dividends

What looked to be the longest Finance Bill in history has been whittled down to a shadow of its former self with the Government deciding to remove a staggering 72 of the planned 135 clauses which equates to over half of the Finance Bill being postponed until after the UK General Election in June.

April 2017 - Sophie Napier: Don’t Risk Missing Out - What You Need to Know About the Residence Nil Rate Band

The RNRB is a significant change to the existing inheritance tax framework and a very valuable tax relief. If the RNRB is fully utilised on the death of a surviving spouse in the 2020/21 tax year, the potential inheritance tax saving would be £140,000.

March 2017 - Laura Brown: Spring Budget 2017 Summary

Personal Allowance – The government reaffirmed its commitment to raise the personal allowance to £12,500 which has been confirmed with the personal allowance increasing to £11,500 from April 2017.

March 2017 - Peter Shand: Changes will make young heirs a little wealtheir

“There is nothing as certain as death and taxes.” Or to put a modern spin on it, “none of us is getting out of here alive, so make sure to pay the right tax bill, when you leave”.

January 2017 - Joe Davies: No exceptions for Bonds of Caution

In my previous blog I explained the changes to Bonds of Caution, following the Succession (Scotland) Act 2016. In this blog I describe a recent example being applied.

November 2016 - Laura Brown: Autumn statement 2016. No real surprises - good or bad.

Philip Hammond delivered his first and last Autumn statement, and announced that as of next year the UK will have an annual Budget in the Autumn. The Spring 2017 Budget will be the final Budget to be held at that time. He stated that “No other major economy makes hundreds of tax changes twice a year, and neither should we"

November 2016 - Matthew Smith: What happens to your digital assets on death?

We live in an increasingly technology dependent society as more of our assets are stored, accessed, and managed electronically. Identifying and recording your digital assets is the first step in ensuring they are dealt with in accordance with your wishes at the time of your death. It will be important to review and update this list as your digital assets accumulate.