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On 2 November the Scottish Government published its Consultation document “The Role Of Income Tax In Scotland’s Budget”.  Of particular interest to Scottish taxpayers are four alternative options for the taxation of income devolved to Scotland (being non-savings and non-dividend income), one of which will likely be adopted in future.

Many people are reluctant to put in place a Will.  Some feel they are too young and do not wish to consider making a Will until later in life or they become seriously ill.  Others feel they have insufficient assets or are comfortable that their family will follow their instructions.   Regardless of your age or how modest or straightforward you think your estate is, we recommend all our clients put Wills in place.

The Burial and Cremation (Scotland) Act 2016 (‘2016 Act’) has now been on the statute books for one year. The Act provides a comprehensive and modern framework for funeral arrangements in Scotland.  This Insight takes a closer look at some of its key provisions.

While non-domiciled individuals (“non-doms”) have traditionally received favourable tax treatment in the UK, a number of reforms were announced in the 2015 summer Budget to widen the scope of the UK tax net.  Last week’s Finance Bill contains a number of provisions which bring these changes into force from 6 April 2017.

Yesterday Chancellor Philip Hammond delivered his first and only Spring Budget.  Although, as anticipated, the Budget was relatively uneventful, a number of previously announced changes which may affect clients will come into effect from April. This Insight provides a summary of the key measures to look out for. 

The new year brings with it the end of the first reporting period under the Common Reporting Standard (CRS), a measure designed to assist in the fight against international tax evasion by requiring “Financial Institutions” to identify and report to their local tax authorities information on individuals who are tax resident in one country but who receive payments in another country.  This note summarises the obligations under the CRS as they apply to UK registered charities.

In January we reported on the provisions of the Succession (Scotland) Bill 2016, which went on to receive Royal Assent on 3 March 2016. While some administrative provisions came into force on 4 March, the remaining sections will come into full effect on 1 November.  

This insight reports on the main changes.

Significant changes to Scottish Succession law are on the way with the enactment of the Succession (Scotland) Act 2016 (“the 2016 Act”) due to come fully into force on 1 November 2016. One area of reform relates to the effect of divorce on Wills.  Here, we summarise the changes and also examine other common succession issues arising for clients who have been married more than once.

Chambers UK 2018

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