Most parents want to help out their children financially at some point in their lives, whether with college or university costs, their first car, their first step on the property ladder or any number of other things. The financial challenges for many are more acute at the moment, due to the coronavirus outbreak and its impact on the economy, job security, income levels and the availability of loans and mortgages, so more young families may be looking to their parents for help. Whilst the intentions are always good, problems can and do arise, and some may find their way to the courts. So, there are various "Dos and Don'ts" to bear in mind when supporting children financially.
WBD private wealth partner Neil Long has been featured in the prestigious Citywealth TOP 100 Trust Litigators List 2020, a guide which recognises individuals who have excelled in litigation and showed great skill in lateral thinking and in negotiating with opponents.
It seems that a burgeoning deficit is one of the more guaranteed results of the UK government's extensive support packages to prop up our economy in response to the coronavirus pandemic. The media is now replete with speculation about how Government may seek to address this, including through tax policy changes. In this article we briefly summarise some of the recent crystal-ball gazing on how tax policy may develop, together with highlighting some initial suggestions about how clients might seek to prepare.
This week has seen further measures announced by the Government to support business and individuals as the effects of the restrictions imposed start to be truly felt. In the charities sector, both individual charities and industry bodies are beginning to fully estimate the cost of the pandemic.
A lot has happened over the last 7 days as the country gets to grips with new ways of working and the workforce adapts.
What are the key themes emerging for the charities and not for profits we support
The Coronavirus outbreak is a salient reminder that as individuals our own personal affairs should be up-to-date. Here is a brief guide to what you may wish to consider as part of a personal contingency plan.
Death and taxes may be the only certainties in this world, but exactly how tax is raised on death and on lifetime gifts is subject to tinkering and political debate. A new cross-party parliamentary report proposes radical changes to completely change, rather than just tinker around the edges, how inheritance tax would be charged in the UK and, if ever adopted, would have significant impact on your wealth and succession planning.