Codicils

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Codicils

A codicil is of similar nature to a Will in its purpose and formalities, but in general it is supplemental to and considered as annexed to a Will previously made, being executed for the purpose of adding to, varying or revoking

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Latest Private Client News

CIOT warns Budget tax changes increase system complexity and compliance burden

The Chartered Institute of Taxation (CIOT) has criticised the latest Budget for adding complexity to the tax system through multiple changes including three-year extension of income tax threshold freezes affecting 780,000 additional taxpayers, new taxes on high-value properties and electric vehicles, increased rates for dividend and property income and limitations on agricultural inheritance tax reliefs.

CIOT warns of unfair outcomes from Chancellor's pension salary sacrifice NIC cap

The Chartered Institute of Taxation (CIOT) has expressed concerns about potential unfairness following the Chancellor's announcement to cap National Insurance advantages on pension salary sacrifice schemes from April 2029. Under the new rules, both employees and employers will pay National Insurance contributions (NICs) on any amount exceeding £2,000, while income tax relief remains unchanged. CIOT warns that these changes could disproportionately affect basic rate taxpayers and individuals with student loans.

Tax—publication of Finance Bill 2026

Tax analysis: The government published Finance Bill 2026, also known as Finance (No 2) Bill 2024–26 and Finance Bill 2025–26 (FB 2026), on 4 December 2025.

CIOT raises concerns over proposed high-value council tax surcharge

The Chartered Institute of Taxation (CIOT) has released comments from the chair of its Property Taxes Committee, Leigh Sayliss, on the government’s plan for a new high value council tax surcharge in England. Sayliss notes that the measure adds further complication to the already complex property taxation system, which involves nine existing property-related taxes, and that the surcharge—payable by owners, including those holding property through companies or trust structures—may result in different people being taxed in relation to the same property. The comments highlight concerns about ‘dry’ tax charges and the impact on asset-rich, cash-poor pensioners with longer mortgage terms who may struggle to downsize without effective deferral arrangements and lender support. Sayliss welcomes the decision to delay implementation until 2028 and the planned consultation in early 2026.

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