If you own more than one property (e.g. a holiday home or buy to let) you must elect one as your primary residence for tax purposes.
Contrary to belief, you do not need to use a lawyer in order to write your own will. It must simply be in writing and be properly witnessed by two independent third parties when you sign it.
As with all tax matters, you should consider your personal tax status and that of your spouse. Whilst you may expect to be liable (or not liable) for tax in certain circumstances, personal tax status and previous behaviour might result in a different outcome.
When a company director dies, it is usual for his shares to pass to whomever inherits his shares through his will. The mechanism by which the deceased’s executor might implement this transfer will, unless otherwise stated, be set out in the company’s articles.
Sometimes, the terms life insurance and life assurance are used interchangeably but it is important to realise that they are very different products.
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs, business, or some other legal matter, sometimes against the wishes of the other.
One benefit of the current tax regime is that life cover, if taken out by the company, can be treated as an expense for tax purposes and is therefore allowable against corporation tax.
Losing your job or finding yourself ‘between jobs’ is, unsurprisingly, a stressful place to be. Keeping a cool head and taking action is important.
One of the biggest fears of any parent is that they die leaving young children. Of course, we all want to leave our children what we can in financial terms, but if they are under 18 then they will also need a guardian to look after them.
As a professional, responsible company Mortgage Required believe all clients should be aware of the risks associated with every loan. With this in mind we offer all customers a free protection review.
If you die without a Will in place then you are said to be ‘intestate’ and the laws of the land will decide what happens to your estate.
Dying without a Will is a very bad idea.. However, what if you don’t die? What if you are simply incapacitated and unable to either work and/or make your wishes known in respect of child care or the management of your assets?
Whilst the legal systems of Scotland and England vary and there are some specific differences with respect to the purchase and sale of property, both systems have advantages and disadvantages.
A will is a means by which a person may set out their wishes in respect of their estate in the event of their death. It might detail the deceased’s wishes for funeral arrangements and go into as much or as little detail as required, perhaps even detailing music and a venue for the wake!
If you have anything of value to leave when you die, or you have dependents or children that are under the age of majority, then you should have a Will that appoints guardians and allocates your wealth appropriately.
The most wonderful time of the year can easily turn into the most expensive time of the year. Watching the pennies doesn’t mean that the Christmas festivities have to stop, following a few budgeting tips can mean you still have a special Christmas and don’t go into the new year in debt.
4 days ago
December is usually a less desirable time to buy as many people don’t want to move over the holidays. However, prospective buyers do start to look at this time. Selling your home in winter may require a bit of extra attention to showcase your property at its best.
We look at why mortgage rates increased following the Bank of England's choice to reduce the bank rate, and should you fix now?
30 Oct 2024
On 30th October 2024 the Chancellor, Rachel Reeves delivered the Autumn budget which we had previously been warned would be “difficult”. Below we have summarised the main housing points.
23 Oct 2024
In an increasingly cashless society, money is an intangible concept for children to grasp. In the days of coins and notes, kids could see money as something physical you require to purchase goods and services.
In order to help teach your children about money, we have listed some tips below;
18 Oct 2024
The UK’s chancellor, Rachel Reeves will deliver the Labour government’s autumn budget at the end of the month, we take a look at what could be announced in relation to housing.
Recent research from Halifax has revealed the most sought-after locations for first time buyers in Britain.
The data which was taken from the Halifax House Price Index looked at areas outside of London where those looking to purchase their first property were buying. Despite high property prices and increased rates, these first time buyer hotspots have remained popular.
7 Oct 2024
Taking care of your mental health means looking after your emotional, psychological, and social wellbeing. There are several ways we can practice self-care that will help to improve our physical and mental health. This can help to reduce our risk of illness, manage stress, and boost our energy levels!