HMRC collects record £4.7bn inheritance taxes

August 2, 2016 0 comments

family life

Her Majesty’s Revenue and Customs (HMRC) collected £4.7 billion in inheritance tax over the last financial year. This is the largest amount of inheritance tax (IHT) taken by HMRC in the 30 years since the introduction of the current tax system. The figure represents a 22 per cent increase from the previous year, when IHT…

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Inheritance tax: dying at the wrong time

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July 27, 2016 0 comments

family law

When it comes to inheritance tax, some people are simply dying at the wrong time. How much inheritance tax will I be charged? Currently, Inheritance Tax (IHT) is payable on death at the rate of 40 per cent of the aggregate value of an individual’s chargeable estate over and above the available IHT ‘nil rate…

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Costs ruling in failed will row

June 27, 2016 4 comments

financial settlement

A woman who questioned the will of her late father in court has been ordered to pay more than £65,000 in costs. The case concerned the illegitimate daughter of a wealthy businessman. She challenged a will leaving his fortune to his partner. Her claim was based on various allegations, including undue influence and the claim…

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Claim on Saudi king’s estate overturned

June 22, 2016 0 comments

family law

The Court of Appeal has overturned a Palestinian woman’s multi-million pound claim against a Saudi Arabian king’s estate. She had claimed that the late King Fahd married her in secret more than 40 years ago and promised her a lifetime of financial support. She also insisted that this promise had been backed up with binding…

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Divorced man granted permission to challenge will

May 31, 2016 0 comments

financial settlement

A divorced man has been granted permission to appeal the will left by his mother-in-law. In Randall v Randall, the man and his wife had agreed, as part of their divorce settlement, that if she inherited more than £100,000 from her mother, the excess funds would be divided equally with him. When her mother did…

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Citizens Advice reports jump in will enquiries

May 19, 2016 0 comments

family law

Calls regarding the absence of a will after a family member has died have surged in recent years, Citizens Advice reports. Speaking to Radio 5 Live, the charity said there had been  3,747 enquiries  on the topic last year, nearly twice as many as four years earlier, when only 1,522 calls came in. The number…

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Sons contest Loose Women star’s will

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April 12, 2016 1 comment

inheritance tax

The two adult sons of actress and talk show panellist star Lynda Bellingham have announced plans to challenge their late mother’s will. The former star of ITV’s Loose Women died in 2014 from cancer. Her will reportedly left everything to her third husband. Her sons claim their stepfather is depriving them of their inheritance by insisting…

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