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Murray Beith Murray is a leading Scottish private client law firm.

For over 170 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.

Call us today on 0131 225 1200
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Leaving your family home to your children and the impact on inheritance tax

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For many of us, leaving the family home to our children is something that is important to us. The question is, when is the best time to do this? Should you gift it to them now or leave it to them in your Will? Here, we explain what you should be considering when making this decision.

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Have you overpaid Inheritance Tax on shares hit by Coronavirus?

SOPHIE

If you have recently inherited shares that have now collapsed in value due to the coronavirus pandemic, you could be entitled to a substantial inheritance tax (IHT) repayment.

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Inheritance tax to be replaced by gift allowance system under new proposals

On 30 January 2020, the All-Party Parliamentary Group (APPG) for Inheritance & Intergenerational Fairness published a report proposing a radical change to the current inheritance tax (IHT) regime. The report – named Reform on Inheritance Tax – suggests replacing the IHT system with a flat-rate gift tax payable on both lifetime and death transfers.

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The Scotsman: How best to handover wealth to the next generation

peterPeter Shand, Murray Beith Murray Partner and experienced family business lawyer, speaks in The Scotsman’s Vision business magazine, this month (published 12 December 2019).

Read the full article below:

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Proposed Inheritance Levy Could Affect Over 90% of Scottish Estates

adam swayne

A recent report from the Institute for Public Policy Research (IPPR) Scotland has proposed changes to local taxation which could hit 92 per cent of all Scottish estates. Among its proposals, the IPPR suggests a 10% local Inheritance Tax (IHT) rate which could apply to all Scottish estates valued at over £36,000. 

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