Prior to the election earlier this year, a key promise in the Conservative Party’s manifesto was an increase in a married couples’ “nil rate band” (the amount they can ultimately pass to their children or others free of inheritance tax ) from £650,000 to £1 million. The Party had picked up on the fact that the nil rate band hadn’t kept up with house price increases which were pushing more and more families into the inheritance tax bracket. The standard nil rate band has been
Its a well known fact that lots of parents do not share the same surname as their child and travel without their child’s other parent. I was talking to my friend recently who, on returning into the UK, was met by a slightly grumpy Passport Control officer who demanded to see her child’s birth certificate. Of course, she did not have it; just the passport. He then asked for her to provide a letter or some other form of written proof that her child’s dad had agreed for her to t
I read this week that there is another new initiative to try and reform the laws of intestacy to include cohabitees. The law of intestacy sets out what happens to someone’s assets if they do not leave a Will. It is estimated that approximately 70% of the population do not make a Will and therefore this law covers a considerable number of people. The law of intestacy looks after an individual’s surviving spouse first of all and then their children (though not stepchildren).