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Private Client Category

26th April 2016
George Ide LLP is proudly supporting St Wilfrid’s Hospice “Make a Will Fortnight” which is running between Monday 6th June and Friday 17th June 2016. Through the “Make a Will Fortnight” scheme, we will update or write a new standard Will free of charge, in exchange for a donation to St Wilfrid’s Hospice. The hospice has been providing specialist care and support for those in…
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07th March 2016
Until 5 April 2016 the tax payable on dividend income is calculated by reference to the actual income received plus a tax credit of 10% (grossed up dividends).  Basic rate taxpayers are only liable to tax on the grossed up dividends at 10%, which equates to the tax credit, so there is no further liability.  Those not liable to income tax cannot reclaim any of…
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26th February 2016
A new European Union (EU) Regulation (650/2012 or Brussels IV) introduced on August 17th 2015 gives individuals across EU Member States the freedom to choose whether their assets are subject to local succession laws or those in their country of nationality. In the UK, individuals are free to leave their estate to whomsoever they wish, whether that be to their family or charity, as long…
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02nd February 2016
With the current retirement age set to rise especially for many women, now is the time to organise your affairs to ensure, firstly, that you have enough income to meet your needs once you are retired and, secondly, that your legal affairs are in order. Income in Retirement If you have a pension plan you should pay into it as much as you can afford…
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21st December 2015
George Osborne’s Autumn Statement and Spending Review on Wednesday 25th November was seized upon by some as a U-turn damaging his austerity credentials. It was certainly surprising to hear the Chancellor reversing his tax credit proposals, offering significant incentives to home buyers and ensuring that pensioners continued to be treated as almost a special case – all made possible from reduced Government debt charges and…
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28th October 2015
In recent years there has been increasing pressure on HM Revenue and Customs (HMRC) to prevent tax avoidance and evasion in order to increase tax revenues. The vast majority of tax on individuals in the UK is collected by self-assessment. Tax Returns can be filed online and tax due calculated by online systems. It is therefore possible for HMRC to be completely unaware if a…
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23rd October 2015
The Court of Protection department at George Ide LLP has assisted many clients over the years with various applications to the Court of Protection.  The majority of applications relate to the appointment of a property and affairs deputy.  Other applications commonly made require the Court to consider and approve a Statutory Will or Codicil made on behalf of an incapable person who lacks testamentary capacity…
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11th September 2015
On 8th July 2015 George Osborne delivered the first Conservative budget for almost 20 years. It set out a number of key spending and taxation plans, several of which were aimed specifically at Landlords. The most substantial change introduced is the restriction of tax relief for financing costs (such as mortgage interest, loan interest for the purchase of furnishings and associated fees) incurred on UK…
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26th June 2015
As of April 2015 the 10% starting rate of tax for savings income has been simplified. Savers will now pay no income tax on their savings where their total income is below £15,600. Where the saver’s total income exceeds £15,600 but the amount from non-savings income is less than this figure part of their savings income will be tax free. A new £1,000 personal savings…
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27th April 2015
Inheritance Tax (IHT) is payable on death at 40% on a value above £325,000 for individuals and £650,000 for married couples / civil partnerships. With the IHT threshold unchanged since April 2009 and Property/Shares likely to rise further in the medium term, more and more people could well now exceed this threshold. IHT has always prompted vigorous debate. On the one hand there is the…
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