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.
When dealing with estate planning, the focus tends to be on Inheritance Tax (IHT) mitigation and savings. However, for those with assets acquired over the course of their life, there is also a need to consider the impact Capital Gains Tax (CGT) has on an estate.
Recent analysis has disclosed that one in twenty-five of us will pay Inheritance Tax (IHT) on our estate. In the last year, HM Revenue and Customs has collected nearly £1bn more in IHT receipts than in the previous year. This signifies an increase in the value of estates falling into Inheritance Tax. This is partly driven by recent record increases in residential property values and partly by IHT thresholds that have remained static for several years.
With effect from 1 Oct 2022, the law surrounding short term lets in Scotland is changing. As from that date, subject to limited exceptions, all property let out as short term accommodation requires to be licensed by the local authority in whose area it is located.
New Private Client Partners
Murray Beith Murray, is pleased to announce that two solicitors have been promoted to partner. Sophie Napier and Fraser Scott have taken up their new roles from 1 February 2023.
Sophie Napier joined the firm in 2011 after qualifying as a solicitor in 2009 and Fraser Scott qualified in 2015, after working for the Scottish Government for 10 years. Both specialise in private client advice within the firm’s Asset Protection group.
When you grant a Power of Attorney, the aim is to appoint an attorney you can trust. You expect your attorney will make the kind of decisions you would make but no longer can. In life, however, things do not always turn out as planned and, on occasions, it can be difficult to prevent misuse of a Power of Attorney.
