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Lasting Powers Of Attorney - Power Of Attorney And Advance Decisions Enhancement
29 July 2020
1 min read

Lasting Powers Of Attorney - Power Of Attorney And Advance Decisions Enhancement

The Powers of Attorney and Advance Decisions guide has been enhanced with a fuller discussion of lasting powers of attorney including the roles and responsibilities of certificate providers and the process involved with objecting to registration. Commentary on enduring powers of attorney has been expanded with discussion of the registration and objection processes.
Wills and Lifetime Planning News and Updates
Purchase Of Land - Nil Rate Band Increase For Land Transaction Tax In Wales
27 July 2020
1 min read

Purchase Of Land - Nil Rate Band Increase For Land Transaction Tax In Wales

The Welsh Government has temporarily increased the nil rate band of land transaction tax for residential property transactions in Wales, increasing the nil rate from £180,000 to £250,000 for main residential purchases. The temporary rates apply for main residential purchases between 27 July 2020 and 31 March 2021, but do not apply to purchases of second homes or buy-to-let properties.
Conveyancing and Property News and Updates
Update To Estates Commentary
07 July 2020
1 min read

Update To Estates Commentary

The Estates commentary has been updated to reflect operational changes brought in by HM Revenue & Customs and the Probate Registry. HM Revenue & Customs will no longer print and stamp the inheritance tax Probate Summary, form IHT421, and return it to customers. Instead, they will email the IHT421 directly to the HM Courts & Tribunals Service. They will let the agent or taxpayer know when they have done this either by writing, or by adding a note to the IHT calculation. HM Revenue & Customs will no longer be accepting cheque payments for IHT, or making IHT repayments by cheque. They have started to update various IHT forms to include space to add bank details. To date, the provision to add bank details has been added to the Claim for Relief – Loss on Sale of Shares, form IHT35, and Inheritance Tax Account, form IHT100. Practitioners should make sure that they are using the latest versions of all forms. Probate applications should be sent to the Oxford and Newcastle district registries only, and not Cardiff or Harlow. The Estates commentary provides practical guidance for all those running probate files.
Estate Administration News and Updates
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