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Private Client

Is flexibility the key to your future?

Jaclyn Russell, partner and head of our Private Client team, features in the latest edition of the Bulletin published by Aberdeen & Grampian Chamber of Commerce and explores alternative options that may give familes more flexibility when considering what they want to happen to their assets after their death.  A subject that many would prefer not to deal with and frequently is still put off until it's too late. 

The Chancellor’s next Budget is due to be published earlier than normal this year, on Wednesday 3 March 2021. 

Although no significant details have been published in advance of the Budget, there has been widespread media and industry speculation that the Budget will include some measures to recoup, to some extent at least, the cost to the Treasury of supporting the UK economy during the last 10 turbulent months. 

Paying for Covid-19: Time to make a plan

Magnus Mackay, senior associate in our Private Client team, features in the latest edition of the Bulletin published by Aberdeen & Grampian Chamber of Commerce. 

The cost of the coronavirus pandemic on UK finances has been huge. It is perhaps inevitable that the Treasury will seek ways to rebalance the drain on public finances. 

Do you know who inherits your estate if you don’t have a Will? 

Many people don’t know the answer to this question.  A common misconception is that a surviving spouse or civil partner would inherit everything.  Currently, this is not necessarily the case.

In 2015, the Scottish Government conducted a Consultation into the law that applies when someone dies “intestate” (ie. without a Will).  Following this, the Scottish Government acknowledged the law in this area needs updating, since the “make-up of families in Scotland is vastly different today than it was when these laws were passed”. 

CGT - 30 Day Payment Deadline now in effect for some residential property transactions

On 6 April 2020, new rules concerning the payment of Capital Gains Tax (CGT) on some residential property transactions came into effect.  While HM Revenue and Customs (HMRC) has offered some flexibility in light of the Covid- 19 outbreak, property owners should not overlook their obligations.

Looking to the future - digital assets

Kirsten Anderson, Senior Associate in our Private Client team, is featured in the March edition of the Business Bulletin - published by Aberdeen & Grampian Chamber of Commerce. 

Fact v Fiction

As we enter the 2020s, there are still several myths surrounding Powers of Attorney and their operation.  No one intends to lose capacity, and no one intends to leave their affairs in the hands of another, but it is important to try to think one step ahead, and set out your wishes while you still can. 

Can your business survive after you?

Private Client partner, Jaclyn Russell, is featured in the October edition of the Business Bulletin - published by Aberdeen & Grampian Chamber of Commerce. 

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

 

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

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