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Latest reports suggest that the city’s economy is gradually rebounding from the effects of the recent downturn in the oil and gas industry. This is evidenced in a study by The UK Power House which places Aberdeen as the best performing city economy in Scotland, with the fifth best rate of growth in the UK. At the beginning of the year Aberdeen was also voted as the best location to launch a start-up business in the whole of UK.

As the city’s business owners continue to work hard to build high value businesses and adapt and diversify to place them in a stronger position post downturn, it makes sense to plan for business succession for future generations.

Recent publicity about an English Court of Appeal ruling on the rights of unmarried couples has highlighted the misunderstanding that many people have about their rights following their partner’s death.

The Private Housing (Tenancies) (Scotland) Act 2016 introduces a new type of tenancy in Scotland, under which it is possible for a tenant’s partner or other family members to inherit their tenancy following their death.  This Insight highlights the requirements which must be met in order to take advantage of the new provisions.

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. 

Chambers UK 2018

Contact Info

ABERDEEN OFFICE
28 Albyn Place, Aberdeen AB10 1YL
Tel: +44 1224 845845

 

INVERNESS OFFICE
Camas House, Pavilion 3, Fairways
Business Park, Inverness IV2 6AA
Tel: + 44 1463 713225

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