The following Private Client Q&A provides comprehensive and up to date legal information covering:
The main point to appreciate is that the nil rate band (NRB) and the spousal exemption are two completely separate provisions of the inheritance tax (IHT) code. The NRB is a deduction from an individual’s estate which will have the effect of reducing the amount of the estate liable to IHT, whereas the spousal exemption provides a total exemption from IHT.
The NRB is not restricted to UK domiciled persons. The legislation does not contain an express statement that the NRB applies to non-UK domiciled persons. Rather, it is the absence of any restriction that means it is available to both UK and non-UK domi
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When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
There may be times when, rather than assigning the benefit of an agreement to a third party, the original parties wish instead to end their obligations to each other under that agreement and, in effect, recreate it, with the third party stepping into the shoes of one of the original parties. This is
The right to notice means a right for the employee to remain in employment for the period of notice, not simply to be paid for it. An employer will therefore often include in the contract an express right to make a payment in lieu of notice ('PILON') as an alternative to giving notice, to ensure
This Practice Note considers claims for damages for breach of statutory duty. For guidance on claims for damages for a negligent breach of duty of care outside a statutory duty, see Practice Notes:•Negligence—when does a duty of care arise?•Negligence—when is the duty of care breached?Breach of
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