Bullet Point Updates – Current
Bullet Point Update is our monthly online resource that discusses a topical area within the field of law. Each post is researched by a member of our expert legal team and offers information about legal issues that may be relevant to you or your business.
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The Wealth Tax Commission was established in Spring 2020 to consider proposals for a UK wealth tax. It published its final report this month.
The prospect of a Wealth Tax could be met with varied responses; for example: “am I bovvered?” or “nice problem to have”. But if the Wealth Tax Commission’s proposals go ahead it ...
This month owners and tenants of non-domestic properties should have received a letter from the Scottish Government about changes to the system for non-domestic rates – otherwise known as business rates.
This follows on from the passing of the Non-Domestic Rates (Scotland) Act 2020 which was passed by the Scottish Parliament on 5th February 2020.
In outline ...
- Put broadly, in Scotland, the general aim in relation to financial provision on divorce is that there should be a “clean break” so far as possible. Things are different in England where there is scope for long-term generous maintenance payments being made.
Last month the Supreme Court issued its ruling in a high profile case concerning ...
One of the effects of Covid-19 is that for some the value of their investments has gone down. Compared with the devastation Covid-19 has wrought for many that concern may not seem significant. One might see it as a “nice problem to have”. It can nevertheless be a real concern.
There is the whiff of cliché ...
The last three BPUs (March, April and May) have all related to Covid-19. This one does not avoid the topic altogether but it is peripheral rather than the main focus.
Last month the Scottish Charity Regulator, the Charity Commission for Northern Ireland and the Charity Commission for England and Wales jointly issued “Guidance for Independent Examiners ...
- The BPU for last month here focused on the fact that the Coronavirus (Scotland) Act 2020 made no emergency provisions about the signing of wills during lockdown but explained that the Law Society had stepped in and provided guidance on how to go about this.
The Coronavirus (Scotland)(No 2) Act 2020 (“the No. 2 Act”)
The No. ...
- Traditional will-making
The traditional notion of making a will usually involves:
a meeting at a solicitor’s office to discuss the terms of the will and give instructions;
the solicitor then sending out a draft of the will for review; and then
another meeting at the solicitor’s office to sign the finalised version of the will at which a witness ...
- Registrars’ offices are currently closed to members of the public owing to the Coronavirus outbreak. But no burial or cremation can go ahead in Scotland without a Certificate of Registration of Death (“Form 14”) having been issued by the registrar. This note outlines the current system for obtaining a Form 14 which applies with effect ...
The Bullet Point Update (“BPU”) for October 2018 flagged up some forthcoming changes to do with capital gains tax (“CGT”) on a sale of residential property by individuals.
Those changes are now almost upon us in that they’ll have effect from 6th April. So this BPU recaps and expands on what the changes are.
Of course, if ...
- On 14th January the Inheritance Tax Act 1984 (Amendment)(Siblings) Bill was given its first reading in the House of Lords. What is it all about? Before turning to that some background:
Inheritance Tax (“IHT”)
Inheritance tax is a tax on transfers of wealth, mainly levied on a person’s death. There is a range of exemptions and reliefs. ...