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.
Since 6 April a major change to inheritance tax (IHT) law came into effect with the launch of the Residence Nil Rate Band (RNRB). More commonly known as the 'family home allowance'the Residence Nil Rate Band is an additional inheritance tax relief which will be available when a main residence passes on death to a direct descendant.
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. This move, as highlighted in previous Budgets, will continue the government’s commitment to increase the personal allowance by more than inflation with 2017/18 being the seventh consecutive year this has occurred.
In this month’s edition of The Journal, our Partner Ruthven Gemmell is front and centre with regards to his new appointment as President of the CCBE. Leading Europe’s lawyers as Brexit starts to take shape, he speaks of the wider challenges he and the organisation face.
A short video interview can be watched here: bit.ly
In my previous blog I explained the changes to Bonds of Caution, following the Succession (Scotland) Act 2016. In Glasgow, on 25 November 2016, an individual, Mr Garnett, wrote a letter to the court asking the sheriff to waive the requirement for Caution; and with that the required cost of the premium, solicitors fees and additional paperwork.
We are proud to support the next generation of Scottish solicitors by sponsoring a bauble on the Lawscot Christmas tree. Money donated will go towards funding the legal education of students from disadvantaged backgrounds.
