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Private Client in Scotland

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Latest Private Client News

Private Client weekly highlights—4 March 2021

Private Client weekly highlights—4 March 2021

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—4 March 2021

Purposive interpretation and the settlements legislation (Clipperton v HMRC)

Purposive interpretation and the settlements legislation (Clipperton v HMRC)

The following Private Client news provides comprehensive and up to date legal information on Purposive interpretation and the settlements legislation (Clipperton v HMRC)

Spring Budget 2021—views from the market

Spring Budget 2021—views from the market

The following Private Client news provides comprehensive and up to date legal information on Spring Budget 2021—views from the market

Spring Budget 2021—Tax analysis

Spring Budget 2021—Tax analysis

The following Tax news provides comprehensive and up to date legal information on Spring Budget 2021—Tax analysis

Featured Private Client content

Notaries and notarisation—notarisation

Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...

Creation of trusts—blind trusts

Creation of trusts—blind trusts

What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...

Nature and classification of trusts—the three certainties

Nature and classification of trusts—the three certainties

CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...

Lifetime gifts

Lifetime gifts

A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...

Practice notes

The meaning of relevant property

The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
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Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes

Capacity to litigate

On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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9th Nov
Practice notes

Offshore trusts—offshore income gains (OIGs)

Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
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9th Nov
Practice notes

Trust disputes—sham trusts

The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
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9th Nov
Practice notes

What is an offshore trust?

A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes

Beddoe applications

When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes

Bermuda trusts

This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes

Cayman Islands STAR trusts—common uses

This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes

Trust disputes—court jurisdiction and procedure

Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
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9th Nov
Practice notes

Trustees—power of advancement

Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
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9th Nov
Practice notes

Termination of trusts—methods of termination

Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
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9th Nov
Practice notes

Situs of assets for succession and IHT

When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
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9th Nov
Precedents

Partial deed of revocation of lasting power of attorney

This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
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9th Nov
Practice notes

Liferent trusts—Scotland

Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
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Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
tag iconScottish Law
Practice notes

UK taxation of offshore trusts—inheritance tax

An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 12th Jan
Practice notes

Creation of trusts in Scotland

Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan
tag iconScottish Law

Most recent Private Client in Scotland content

Practice notes

Discretionary trusts—Scotland

What is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an individual—or...
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
tag iconScottish Law
Practice notes

Claims by cohabitants on intestacy in Scotland (Private Client)

This Practice Note discusses the provisions under section 29 of the Family Law (Scotland) Act 2006 (FL(S)A 2006) relating to the right of a surviving...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
tag iconScottish Law
Practice notes

Creation of charities in Scotland

Decisions on creating a charityWhen creating a charity, there are critical decisions to be made about the choice of legal vehicle and on how to...
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Produced in partnership with Gavin McEwan of Turcan Connell 15th Jan
tag iconScottish Law
Practice notes

Termination of trusts—Scotland

Revocation by the settlorTestamentary trustsWill trusts (or testamentary trusts) are capable of being revoked up until they come into effect on death....
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
tag iconScottish Law
Practice notes

Continuing and welfare powers of attorney—Scotland

Why grant a power of attorney?Until the coming into force of the Adults with Incapacity (Scotland) Act 2000 (AI(S)A 2000), it was the case that any...
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Produced in partnership with Dorothy Kellas of Gilson Gray 15th Jan
tag iconScottish Law
Practice notes

Legal rights—Scotland

Protection against disinheritanceWhere a person dies domiciled in Scotland, legal rights form part of the entitlement of the deceased's spouse and...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
tag iconScottish Law
Practice notes

Trusts for vulnerable persons—Scotland

What is a trust for (or with) a vulnerable beneficiary?A trust for a vulnerable beneficiary will fall into one of two categories:•a disabled person's...
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Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
tag iconScottish Law
Practice notes

Glossary of Scottish private client words and expressions

This is a glossary of common words and expressions used in Scottish private client law with the nearest England and Wales equivalent (where relevant)...
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15th Jan
tag iconScottish Law
Practice notes

Welfare guardianships—Scotland

In this Practice Note, an incapacitated adult is referred to as the ‘adult’.For information on the legislative framework for guardianships, see...
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Produced in partnership with Dorothy Kellas of Gilson Gray 15th Jan
tag iconScottish Law
Practice notes

Administration of financial guardianships—Scotland

This Practice Note answers some Frequently Asked Questions about issues arising in the administration of a financial guardianship.Please see Office of...
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Produced in partnership with Dorothy Kellas of Gilson Gray LLP 15th Jan
tag iconScottish Law
Practice notes

Variation of trusts—Scotland

Under the common law, the opportunities for varying the terms or purposes of a trust are very limited once the trust has taken effect. If the trust is...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
tag iconScottish Law
Practice notes

Validity of Wills—Scotland

CORONAVIRUS (COVID-19): Some of the formal requirements for a valid Will in Scotland have been relaxed during the coronavirus pandemic. See News...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
tag iconScottish Law
Practice notes

Nature and classification of trusts—Scotland

DefinitionsIt is difficult to find a wholly satisfactory definition of ‘trust’, given the range of situations where trusts arise.The trust does not...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
tag iconScottish Law
Practice notes

Liferent trusts—Scotland

Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
Read More >
Produced in partnership with Peter Murrin of Turcan Connell 15th Jan
tag iconScottish Law
Practice notes

Devolved taxes and varied tax rates—Scotland

Devolution is the process of pushing down decision-making to lower levels within the nation-state. Specifically, it refers to the process of giving...
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15th Jan
tag iconScottish Law
Practice notes

The Succession (Scotland) Act 2016

This Practice Note examines the changes to the law of succession created by the Succession (Scotland) Act 2016 (S(S)A 2016). It provides information...
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Produced in partnership with Jacqueline Leslie of Harper Macleod LLP 15th Jan
tag iconScottish Law
Practice notes

Rights of beneficiaries under Scottish law

General nature of beneficiaries’ rightsThe right of the beneficiaries of a trust is generally considered in Scots law to be only a personal right, but...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 15th Jan
tag iconScottish Law tag iconIn-house
Practice notes

Scotland: Land and buildings transaction tax (LBTT)—the basics

Land and buildings transaction tax (LBTT) replaced stamp duty land tax (SDLT) in Scotland with effect from 1 April 2015. This Practice Note provides...
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Produced in partnership with Ronnie Brown of Burness Paull 15th Jan
tag iconScottish Law
Practice notes

Scotland: Land and buildings transaction tax (LBTT)—administration and compliance

CORONAVIRUS (COVID-19): Revenue Scotland is not processing paper returns due to COVID-19. Agents are encouraged to make returns through SETS (the...
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Produced in partnership with Ronnie Brown of Burness Paull 15th Jan
tag iconScottish Law
Practice notes

Tax—devolution tracker

The tracker is split into two main parts:•tracking by country, which is split down into:◦Wales◦Scotland, and◦Northern Ireland, and•tracking by tax,...
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15th Jan

Popular documents

LEXISNEXIS

Common financial covenants

This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan to value ratioIt explains:

LEXISNEXIS

What is a third party debt order (TPDO)?

What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well

LEXISNEXIS

Notice of acting

Case number [insert number][In the principal registryORIn the [insert court location] FAMILY court]Sitting at [insert place]Notice of actingBetween[insert petitioner name]Petitionerand[insert respondent name]RespondentTake notice that we [insert name of firm] have been appointed to act as the

LEXISNEXIS

Breach of statutory duty

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