News

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Brexit – how we think this will affect us

07/07/2016

We will be publishing a series of articles about Brexit and how we think Brexit may affect us all. The legal implications of Brexit remain unclear until the detailed terms of exit are settled, which is likely to take a while. For example the Greenland exit in 1985 took three years to complete. Leaving the EU However the UK exit is likely to be more complex because of the duration of our membership, the wide ranging issues to be negotiated and settled, and the differing objectives sought amongst the political parties. The UK may have voted to leave the EU, but it will legally remain a member of the EU because the legal process of exit does not formally start until the UK notifies the EU of its intention to exit under Article 50 of the Lisbon Treaty. The EU membership remains in charge of the negotiation process and timetable. Currently there are differing political opinions in the UK and the EU as to when the UK should give formal notification, and whether any informal negotiations should take place. Laws and regulations EU laws and regulations which currently affect us will remain although the UK may seek to challenge these with parliament reviewing all laws and regulations on an individual basis, and deciding which to adopt, revise or reject.

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The devilish detail on inheritance tax

27/05/2016

When Chancellor George Osborne announced significant changes to inheritance tax (IHT) in last summer’s Budget speech, the move had been much anticipated. But rather than simply raising the tax-free threshold for everyone, he announced a new allowance specifically for those who own their home and want to leave it to their children.

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