Articles & Downloads / Huw Worthington

Huw Worthington

How wealthy do you have to be to pay inheritance tax?

21 November 2017

In order to pay Inheritance Tax on death your assets need to be at least £325,000 if you are single or £650,000 jointly if you are in a civil partnership or married. Should you reach the above criteria then your loved ones will have to pay 40 per cent death duties on assets above those levels. Happily the introduction of a new allowance – the Residence Nil Rate Band (RNRB) applies to residential property when it is left to direct descendants. It will result in an additional £100,000 of nil-rate band – the term for the tax free allowance – in 2017-18, rising to an additional £175,000 in 2020-21. Read More

Huw Worthington

“Buyer beware” – even lawyers get things wrong

19 April 2017

When a prospective purchaser or tenant agrees to buy or lease a property part of the legal process involves the raising of either enquiries before contract or enquiries before lease. In most cases, a Vendor will state that a “buyer should obtain own survey” when responding to any queries about the state or condition of the property in sale. As solicitors, we always advise our purchaser clients to obtain surveys as the old legal saying of caveat emptor or let the buyer beware prevails. Read More

Huw Worthington

Significant Tax Changes for Buy-to-let Landlords and Second Home Owners

02 February 2016

Stamp Duty Land Tax (SDLT) is a tax which is payable on the acquisition of freehold or leasehold property. It is currently applicable to everyone in England, Wales and Northern Ireland (see the Land and Buildings Transaction Tax for Scotland) where the value of the property is in excess of £125,000. The amount of SDLT payable comprises a series of thresholds rising proportionately as against the value of the property. Read More

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