About Private Client Law
When Private Clients ask questions, they expect answers - right away. But when you’re working across so many different areas of the subject day to day, it’s impossible to hold it all in your head. In addition finding the answer often means cross-referencing several different sources – from the latest legislation to the Law Society’s most up-to-date guidance.
Will Precedents
Precedents covering the most common scenarios in this area. Drafting notes accompany each clause - incorporating the latest developments like Will drafting considerations for inheritance tax residence nil rate band.
Court of Protection
Our Court of Protection topic covers both property and finance, and health and welfare Court of Protection applications. It’s geared at both the Court of Protection specialist practitioner and the occasional user.
Trust compliance
Topics include beneficial ownership transparency, the Money Laundering Regulations, the Trust Registration Service, obligations relating to data protection and GDPR and offences under the Bribery Act 2010.
Cross-referencing sources
When private clients ask questions, they expect answers quickly. But, working across lots of areas day to day, it’s impossible to hold it all in your head. We’ll help you cross-referencing several different sources.
Topics We Cover
Latest Private Client News
Tax analysis: In Tinkler v HMRC, the First-tier Tax Tribunal (FTT) in a preliminary decision considered the taxpayer’s application for it to decide...
Law360, London: A British corporate trust settlor owes inheritance taxes on £6.5m in contributions, a UK court ruled, rejecting the settlor's...
This week’s edition of Private Client highlights includes: (1) the Ministry of Justice’s announcement of a proposed LPA fee increase from November...
Private Client analysis: The case concerned the issue of whether, contrary to the normal practice of the High Court, the Will of the claimant (‘the...
This Q&A considers whether a testamentary gift of 10% of the baseline amount to charity to obtain the reduced IHT rate satisfy the definition of a...
Latest Private Client Practice Notes
Trusts—using trusts or property law in financial proceedingsThis Practice Note considers trusts and property law that may be applicable in family...
Trusts within financial proceedings—enforcementThis Practice Note sets out considerations and practical steps to be taken when dealing with...
Employee ownership trustsWhat is an employee ownership trust?An employee ownership trust (EOT) is a particular type of employee benefit trust (EBT)...
Acceptance in Lieu scheme and other heritage property reliefsThe Acceptance in Lieu (AiL) scheme allows those who are liable to UK inheritance tax...
UK residential property ownership structures for UK resident and domiciled individuals—taxation outlineThere are a number of relevant taxes which need...
Latest Private Client Precedents
Grant letter to NS&I NS&ISunderlandSR43 2SB[enter date]Dear NS&IThe late [name of deceased]NS&I number: [NS&I number][Premium Bond [holder’s] number:...
Grant letter to Pension Service[name of Pension Service office][address of Pension Service office][enter date]Dear [enter Pension Service office]The...
Estate administration—Letter to pension companyFORTHCOMING CHANGE: The government has announced plans to apply inheritance tax to unused pension funds...
Letter to GP or other appropriate assessor to complete COP3 in connection with deputyship applicationDear [insert name of GP or other appropriate...
Letter to GP or other appropriate assessor to complete COP3 in connection with statutory Will applicationDear [insert name of GP or other appropriate...
Latest Private Client Q&As
Featured Private Client content
Nature and classification of trusts—the three certainties
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
Protectors
ProtectorsWhat is a protector?A protector is a person who holds powers under a trust but who is not a trustee. A protector is a person who is...
Preparing the application form PA1P/PA1A for probate or letters of administration
Preparing the application form PA1P/PA1A for probate or letters of administrationFORTHCOMING CHANGE: The postal application forms PA1P and PA1A for...
Administration actions—personal representatives and the deceased's liabilities
Administration actions—personal representatives and the deceased's liabilitiesAn individual may assume obligations, for example in respect of...
Loan agreement—individuals
Loan agreement—individualsDATE:Parties1[[name] of [address] [and [name] of [address]] OR [name] and [name] both of [address]] (Lender[s])2[[name] of...
The Cy-près doctrine
The Cy-près doctrineFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a...
Trustees—appointment of trustees
Trustees—appointment of trusteesOriginal trusteesTrustees will usually be appointed by the instrument that brings the trust into existence. The trust...
Death in service benefits
Death in service benefitsOverview of the types of death in service benefits and their tax treatmentThere are three types of death in service...
Assent of assets by personal representatives
Assent of assets by personal representativesPersonal representatives (PRs) can transfer assets to beneficiaries in any way that would also be...
A trust holds the beneficial ownership of shares in a company of which one trustee is a director. Of the three beneficiaries, two are adults and there is a declaration of trust in respect of the shares held for them. The other is a minor and there is a separate declaration of trust for him. What would or should happen to the company shares on the death of a beneficiary? Neither declaration of trust deals with this issue.
Intermeddling in an estate
Intermeddling in an estateWhat is intermeddling?An individual who performs certain duties which a personal representative (PR) would perform to...
Termination of trusts—methods of termination
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
Trusts as a vehicle for holding company shares
Trusts as a vehicle for holding company sharesIntroductionMany trusts own shares as part of a portfolio of investments. This Practice Note looks at...
Benevolent funds
Benevolent fundsFORTHCOMING CHANGE: The Charities Act 2022 (CA 2022) received Royal Assent on 24 February 2022 and will be implemented on a staggered...
Creation of trusts—life insurance trusts
Creation of trusts—life insurance trustsDefining life insurance trustsA life insurance trust usually involves either:•an assignment of an insurance...
Lifetime gifts
Lifetime giftsA lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In...
Source of income (and private client)
Source of income (and private client)When advising an individual on cross-border or offshore tax planning, it is important to establish the 'source'...
Liferent trusts—Scotland
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
Associated legal terms
Agricultural property relief (APR)
An inheritance tax relief which reduces the value for inheritance tax purposes of a transfer of ‘agricultural property’ by the appropriate percentage (ie 100% or 50%) of the value of that transfer which is attributable to the ‘agricultural value’. Agricultural property relief also applies to charges arising under the relevant property regime.
Habitual residence—general approach
Habitual residence should be given the same meaning in all domestic statutes, except where a specific statutory definition is provided. The concept has a community-defined meaning under the Hague Convention on the Civil Aspects of International Child Abduction 1980, and other international conventions, and must be interpreted in those instances in accordance with the community jurisprudence. Habitual residence has been interpreted differently for the purposes of divorce, legal separation, and marriage annulment (applying a centre of interest test), and in the context of parental responsibility (applying a degree of integration test). A person cannot be habitually resident in more than one country at the same time. Habitual residence is therefore highly fact-specific and not a legal concept such as domicile. Habitual residence is to be contrasted with residence. A person may be resident in more than one place at a time, but not habitually resident in more than one place at any one time.
Pay as you earn (PAYE)
The system by which an employer or pension provider makes certain statutory deductions from an employee's or pensioner's income and remits them to HMRC.
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