A reminder that the government’s plans to crackdown on deeds of variation have been put on hold.
Earlier this year, the Chancellor George Osborne announced that deeds of variation would be reviewed as part of efforts to tackle tax avoidance.
However, following the recent Autumn statement the government announced that it will not introduce new restrictions on how deeds of variation can be used for tax purposes but will continue to monitor their use.
Anyone who is about to inherit and may be thinking of passing down some of their inheritance to their children should still seek specific advice about the tax benefits of entering into a Deed of Variation.
For any further information on Deeds of Variation please contact Neil Raiseborough – neil.raiseborough@alsterskelley.com
Please call 01926 356041 to speak to one of the team to make an appointment with one of our Private Client lawyers at any of our six offices.
Neil Raiseborough
Head of Wills, Probate, Tax & Trusts
Neil heads up the Private Client team and dealing with advising individuals on Tax and Estate Planning, the drafting of Wills and Powers of Attorney, Trust creation and administration, the administration of Estates and applications to the Court of Protection.
01926 356000
neil.raiseborough@alsterskelley.com