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05 August 2016 / Alyson Coulson
Issue: 7710 / Categories: Features , Tax , Brexit , EU
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Taxing times

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Alyson Coulson looks at the current IHT & probate situation & whether Brexit will have any effect

  • How will the new Lord Chancellor approach the key issue of inheritance tax?
  • What advice is to be given in the wake of the Brexit vote?

For private client lawyers, the appointment of a new Chancellor of the Exchequer always comes with a certain amount of nervousness. How will the new Chancellor deal with the tax that affects us most—inheritance tax? Will the ship remain on the same course set by the previous incumbent or will he take the helm and lead us into new uncharted waters?

So, what were we expecting? Back in February, we learned that the government is considering a massive hike in court fees for probate applications.

Our clients are currently required to pay a flat fee of £155 to process an application for a grant of probate. This flat fee had already risen from £45 in 2014. Individuals who do not use a solicitor to prepare their probate application are currently

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MOVERS & SHAKERS

Withers—Sophie Barrett-Brown

Withers—Sophie Barrett-Brown

Withers drives further growth in its UK immigration team with new partner Sophie Barrett-Brown

Venus Legal—Esther Amoako

Venus Legal—Esther Amoako

Venus Legal invests in next generation of legal talent as specialist litigation practice grows

Fisher Phillips—Catrina Smith

Fisher Phillips—Catrina Smith

Fisher Phillips continues momentum in London with arrival of Catrina Smith

NEWS
Restrictions on workplace non-disclosure agreements could make settlements slower, more complex and more expensive when reforms expected in 2027 take effect
Private prosecutors face closer scrutiny under Crown Prosecution Service guidance designed to strengthen accountability and consistency when intervention is requested
Foreign states cannot necessarily claim immunity for cyber operations launched abroad against computers in Britain, following a divided Supreme Court ruling
Defendants who make unsupported complaints about their lawyers risk losing legal aid while confiscation proceedings continue without representation
Lawyers advising Russian clients face different sanctions restrictions across the UK, EU and US, despite their shared objective of increasing pressure on Russia
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