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Future-proofing

22 January 2016 / James Ward
Issue: 7683 / Categories: Features , Wills & Probate
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2016 is the year of the client review, says James Ward

Over the last year, private client practitioners have been awash with new laws which in some way will affect the succession planning of their clients. In 2015 alone, we had the proposed residential nil rate band, introduction of capital gains tax for non-residents, proposed changes to the domicile rules, introduction of the EU succession regulations and the proposed changes to stamp duty for second homes that has a direct impact on trust ownership. On top of this, the case of Ilott v Mitson [2015] EWCA Civ 797, [2015] All ER (D) 290 (Jul), arguably setting new precedents around the concept of “reasonable financial provision”, was relayed to the public at large.

Now comes the enviable task of digesting the implications of the various changes. With this in mind, 2016 will no doubt be the year of client review and re-assessment of their affairs. This will be particularly focused on the following:

Residential nil rate band

The introduction of this extension to the nil rate band in

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MOVERS & SHAKERS

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

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