Spanish Legal Services

Spanish Legal Services

New appointment joins Stone King’s International & Cross-Border team

An increasing number of individuals in the UK with overseas assets has led to Stone King strengthening its International and Cross-Border team with the appointment of solicitor Harriet Burt.

Harriet studied law through the Open University and graduated with a First. She completed her Legal Practice Course at the University of the West of England and joins Stone King from Rutters.

English Wills and overseas property

Your Will is arguably the most important contract that you will sign in your life - the document under which you give your assets away. It may be possible to have a single Will to cover your worldwide assets.

To be recognised as a Will it must be formally valid in the country in which it is to be used. Many countries have laws in place, or have signed up to international treaties under which foreign Wills, if drafted correctly, will be recognised.

The Death Knell for Offshore Structures Holding UK Residential Property

Following the proposed changes in the Summer Budget now is the perfect time for non-domiciled clients to review their existing offshore structures and planned domicile status.

As the ‘dust’ settles it is obvious that the Summer Budget has brought with it a huge headache for non-domiciled clients.

By April 2017, as well as being subject to local taxes, non-doms will be liable for UK inheritance tax  if they own ‘enveloped’ UK residential property through an offshore corporate structure.

Tax Miscellany

Furnished holiday lets

Labour plans to stop these being treated as business income in 2010 were shelved, and the relief will extend to properties in the EU from 6 April. However, days let will have to increase to 105 from the current limit of 70. Final details awaited but you may need to boost your marketing effort as competition for lettings increases.

QROPS, QNUPS - Qwhat?

Since A-Day supposedly brought in pension simplification on 6 April 2006 the SIPP (self-invested personal pension) has been developed in the UK to give some degree of flexibility to individuals wanting to have control over the investment of their personal pension funds.

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