Latest Probate and Estate Administration

Handling an estate when a loved one dies involves complex legal, tax, and administrative processes that can add a further layer of stress during an already difficult time. At Whitings LLP we provide clear, expert guidance to ease the burden and help you navigate the Probate process, with support at every stage.   Where the…

Many people choose to donate to charity for a range of reasons, often influenced by personal experiences or the impact of someone they know. While tax benefits are rarely the primary motivation, there are several reliefs and considerations to keep in mind.   My recent article, for the Suffolk Community Foundation, highlights some of the…

As we approach another personal tax year end, we turn our thoughts to tax planning opportunities and actions that should be considered before 5 April. The list below is not exhaustive; however, it should provide some food for thought.   Pension Contributions Higher rate and additional rate tax can be saved on pension contributions. However,…

Do you know how Inheritance Tax on classic cars works?   To many a car enthusiast, a classic car is priceless and for tax purposes there are some useful exemptions for Capital Gains Tax (CGT) purposes where the car involved is considered to be a wasting asset.   H M Revenue & Customs have confirmed…

We share a behind the scenes glimpse into what we discussed at our recent Lunch & Learn with our tax experts!   Training is not only attending events or watching webinars. We make our training practical and share our experiences around the firm through our Lunch and Learn sessions.   Our most recent session starred…

We recently visited the offices of Taylor Rose Solicitors to co-host a Post-Budget Forum at their Peterborough office on 18 November 2024, overlooking the fabulous Ferry Meadows country park.   At the event Nicholas Johnson, Partner at Taylor Rose and I lead the discussions with those in attendance from the local business community, professional advisors…

We ask the question, ‘Post Budget, should your pension planning strategy now change?’   The answer: Perhaps, but maybe not just yet. Here’s why…   A quick recap of the bad news: In recent years, some pension schemes have been increasingly used as a tax planning tool to transfer wealth without an inheritance tax charge,…

Rachel Reeves announced in the 2024 Autumn Budget that pensions will be subject to Inheritance Tax (IHT) from 6 April 2027. Pensions have always been a valuable IHT planning tool, but it seems not any more. However the actual tax charge could be up to 67% on the pension inherited, if not covered by a…

We share our key takeaways on how the Autumn Budget 2024 affects individuals. During the first Budget to be delivered by a woman, and the first Labour Budget for 14 years, Rachel Reeves set out various measures to “fix the foundations and deliver change”.   Along with Income Tax rates, Labour included a manifesto pledge not…

The second Budget of the year is due to take place on 30 October 2024. We knew one would be happening, and expected that there would be many changes announced. More will no doubt come in the next few weeks.   Ahead of this, there is confirmation of the new rules relating to Furnished Holiday…