Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
Murray Beith Murray Senior Solicitor, Fraser Scott, writes in The Scotsman today (Monday 8 July). Read the full article below:
Inheritance tax (“IHT”) payments have hit yet more record highs, according to data recently released by HM Revenue & Customs (HMRC). HMRC collected £5.4 billion in Inheritance tax (IHT) in the year to March 2019. This represents a £160 million increase from the same period a year ago.
The transfer of titles from the Register of Sasines to the Land Register, whether by acquisition, voluntary registration or Keeper-induced registration (KIR), can have undesirable consequences for landowners.
As I wrote in my article on 26 November 2018, the Scottish Government provided a useful update at the end of last year regarding their plans for Succession Law Reform. That update removed some of the uncertainty that has existed for the past few years but still left a number of issues unresolved. To make further progress, the Scottish Government recently released a Consultation on the Law of Succession, focussed on what should happen if someone dies intestate (without a Will).
With less than a month until the end of the 2018/19 tax year the annual rush of frantic tax planning is well underway for many individuals. One of the lesser known, but highly advantageous, tax reliefs available to individual taxpayers comes in the form of Share Aid.
