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Q

In this new anti-tax-avoidance era, when so many tax reliefs have been withdrawn, I've heard that investing in a Business Property Renovation Allowance scheme is one of the few remaining good opportunities for maxing your tax position. Is it true that you can get up to 100 per cent tax relief on the amount invested? And what exactly are these schemes? How do they work? What are the upsides? Downsides?

Asked by
Posted Wednesday 22nd May 2013

Q

My husband and I have successfully been running a small family company for the last five years. We both gave up our jobs in the City and the revenue generated by the company is our sole source of income. We do not have any formal agreements between us as business owners - is there anything we can do or put in place now to govern what would happen to the company in the event of our divorce?

Asked by
Posted Tuesday 7th May 2013

Q

My marriage is at end and my spouse and I are about to separate. Are there any practical steps we should or shouldn’t take?

Asked by
Posted Wednesday 1st May 2013

Q

Do I have to charge VAT on the sale of my Old Master?

Asked by
Posted Wednesday 1st May 2013

Q

I am interested in buying a house in a particular village, but I have heard that some of the properties there are affected by chancel repair charges. What do I need to be aware of if I proceed with the purchase? Do I need insurance to cover this risk?

Asked by
Posted Wednesday 27th March 2013

Q

Sadly my daughter’s husband passed away last year unexpectedly. We are trying to assist her in sorting out his estate and other matters, but much of his personal data and information is held online. In particular she is keen for the personal accounts he held such as Facebook and Google mail to be closed. Our first attempts to contact these companies to ask how we do this have been met by either no response at all or a refusal to help due to confidentiality. How can we get around this and ensure these accounts are closed?

Asked by
Posted Thursday 11th October 2012

Q

My mother appointed my brother as her attorney under a property and financial affairs Lasting Power of Attorney three years ago. I live the other side of the country and am unable to visit regularly but I have recently discovered that the fees for my mother’s care home have not been paid for some time. I am concerned that my brother is not fulfilling his responsibilities as attorney and may be using my mother’s money to pay off his own debts. Is there anything I can do to find out what is happening and perhaps remove him from the role?

Asked by
Posted Monday 17th September 2012

Q

Following the changes announced in the 2012 Budget to the taxation of UK residential properties worth more than £2m and purchased through ‘envelopes’, I'm thinking of winding up the offshore company through which I hold a £6m residential property in London. I am a non-UK resident foreign domiciliary. Should I unwind the structure or do I have other options?

Asked by
Posted Thursday 12th July 2012

Q

I have been told that as a result of the Obama Healthcare Bill I will have to pay an extra 3 per cent tax on my investment income from next year. I am a US citizen living in the UK, is this just on anything I have in the US?

Asked by
Posted Friday 6th July 2012

Q

What can I do to make my former partner let me spend more time with my young children? I am a banker, currently based in London, working very long hours and rely on my being able to spend good quality time with them at weekends. We moved here a couple of years ago, and separated last year. Since then, she has made and broken countless promises that she would let me see our children and not have her new boyfriend carry out roles I used to have, such as taking them to sports coaching etc. Is the English law really so biased against dads?

Asked by
Posted Friday 22nd June 2012

Q

I am a US Citizen living in London. Currently I am using a UK Wealth Management company to invest into a Private Pension in addition to contributions that I am making to my Employers Retirement scheme. I have been advised that I may be breaking the PFIC rules, is this correct.

Asked by James Barlex
Posted Monday 2nd April 2012

Q

After 18 years of marriage I have separated from my partner following an increasingly acrimonious relationship. My solicitor has suggested that we agree the terms of our divorce through mediation, rather than through the courts. I am concerned that I will be bullied and will leave our marriage with little or nothing to show.

Asked by
Posted Monday 19th March 2012

Q

Sadly my son passed away a couple of years ago leaving two teenage children, and while we have a very good relationship with our daughter-in-law she has indicated she doesn’t want to remain a widow as she is only in her early 40’s. What is the best way to structure what would have been our son’s inheritance to ensure it goes to our grandchildren without alienating their mother?

Asked by
Posted Friday 10th February 2012

Q

Is it really possible to avoid stamp duty land tax when purchasing land and property?

Asked by
Posted Thursday 19th January 2012

Q

As art has out-performed equities in recent years, I am thinking of buying art for investment. How can I avoid the sort of disputes I've seen reported where people buy art and then find out it belongs to someone else or it's fake?

Asked by
Posted Thursday 19th January 2012

Q

I am 18 years old and have been playing the multi-player online games of World of Warcraft and Runescape for several years. I have recently become aware that one of my characters may be worth as much as $14,000 if traded. However, please could you advise what the position would be if I died before trading my characters and whether my family could benefit from the value in my place?

Asked by
Posted Monday 16th January 2012

Q

The government was intending to introduce a new and much clearer statutory residence test, but has now decided to delay the new test until 2013. I had started to change my personal affairs to bring them into line with the proposed new test, but now I am not so sure whether this is a good idea or not. How should I be arranging my affairs in respect to residency?

Asked by
Posted Tuesday 3rd January 2012

Q

I am looking to raise capital to fund a business venture using some paintings the family have owned for many generations as collateral. What is the best way to do this?

Asked by
Posted Wednesday 23rd November 2011

Q

I am buying a house in Mayfair and I am told it is a Grade II listed building. Will this interfere with my refurbishment plans?

Asked by
Posted Thursday 17th November 2011

Q

My situation is somewhat similar to that published on November 10: I have recently separated from my partner of 16~17 years, and if politics goes well she will soon be returning to Africa, where she owns 400 square miles (roughly 1,000 square kilometres) of land, mostly millet-growing, with some cattle raising. How do I make it clear to her, and legally enforceable, that I make no claims of ownership to that land, or to any other common property which she has in her possession? I would be happy to trade espresso pots with her, and I have a number of books which I want her to take for herself or for our 14 year-old daughter. Both she and I anticipate problems with my brother-in-law over property left to our daughter and held in trust by my sister, and these will become serious when and if the real estate market recovers and the property is liquidated. But that's another problem for later... -dlj.

Asked by David Lloyd-Jones
Posted Sunday 13th November 2011

Q

My partner and I separated 10 years ago, having lived together for 15 years. We never married. We bought our house in joint names. We contributed equally to the deposit and paid the mortgage together until he moved out. I have stayed on in the property with our two children and he has bought somewhere else. We cashed in a joint endowment policy that supported the mortgage and he used his half of that for the deposit on his new property. Since he moved out he has paid nothing towards the mortgage and has made almost no contribution to maintaining the children. He is now claiming a half share of the property which has gone up a lot in value. What can I do about this? I would have to sell in order to be able to pay him.

Asked by
Posted Thursday 10th November 2011

Q

The current environment is making me cautious about my investments. My adviser has recommended increasing my portfolio's diversification, is this a suitable low risk option?

Asked by
Posted Friday 4th November 2011

Q

I live and work in the US, but am originally from the UK. My US tax adviser has recommended that I have a ‘living trust’, similar to a UK Will, that states what happens to my US assets if anything happens to me. Would such a move have any impact on my tax position in the UK?’

Asked by
Posted Friday 4th November 2011

Q

I run my own business and am planning to marry for the second time. My new wife is 10 years younger than me and we don't plan to have a family of our own but she has one teenage son from a previous relationship and I have two grown up daughters. I also own property in France as well as the UK. What is the best way to plan my estate prior to our marriage to ensure my daughters receive a fair share of my estate?

Asked by
Posted Tuesday 25th October 2011

Q

I am a US citizen and my husband (newly married) a UK citizen. He has property and business enterprises in the UK but we will spend the majority of our time in the US. What do we need to consider in deciding whether it is advantageous (tax-wise) for him to apply for US residency now or remain a UK resident? He is 63 and likely to shutter his business enterprises in the next couple of years but will have substantial assets remaining at that time. Can the assets be moved to the US or better off in the UK? If he has current business enterprise in the UK is it better to remain a UK resident or change to US residency? Thank you.

Asked by Constance Grossart
Posted Saturday 30th July 2011

Q

I will be leaving the UK to work full time abroad. I have considerable property in the UK and my family will continue to reside in the UK. I am concerned about remaining ‘accidentally’ UK resident for tax purposes. Is the law clear on this?

Asked by
Posted Wednesday 13th July 2011

Q

My daughter is looking to buy an apartment in Central London with her partner and we have a substantial deposit to offer her to help her get on to the property ladder. Her partner’s deposit is only a fraction of what we are putting in. How can we best protect our money and her asset if they were to split up in the future? Is there such a thing as a pre-nup for non-married couples?

Asked by
Posted Tuesday 21st June 2011

Q

I have a long term partner who I have lived with for over ten years. Neither of us are interested in marriage but I had assumed in the event that we split-up I would be protected by certain rights as we have co-habited for so long. However I recently became aware of a court case (Kernott v Jones) regarding property rights for an unmarried couple who split and am now in some doubt over exactly what rights co-habiting couples have. Where do I stand in terms of property and asset rights if I did split with my long-term partner and what impact will this Kernott v Jones case have on the law around cohabitation rights?

Asked by
Posted Wednesday 15th June 2011

Q

I have recently made £30 million from the sale of my business. Unfortunately, I am also having marriage difficulties. I have been told that if my wife and I can’t solve our differences and have to divorce, I will have to give her half that sum. Surely this cannot be correct, especially given the effort and initiative that I put into building the company?

Asked by
Posted Friday 3rd June 2011

Q

Can grandchildren inherit a disclaimed legacy?

Asked by
Posted Friday 20th May 2011

Q

What are the tax issues when buying farmland?

Asked by
Posted Thursday 28th April 2011

Q

Following the Budget, what is the future for EIS and VCTs now?

Asked by
Posted Friday 25th March 2011

Q

I have been married for 10 years and I am intending to start divorce proceedings. I have heard that the government is about to introduce changes to divorce procedure. I want to know how that will affect me and what I have to do.

Asked by
Posted Monday 21st March 2011

Q

What are the main changes affecting the savings of high earners which come into effect in April and what should I be doing to plan for this ahead of my retirement?

Asked by
Posted Monday 7th February 2011

Q

I have read in the press recently that the Treasury are planning to introduce tax avoidance measures aimed at clamping down on inheritance tax avoidance schemes. I was advised some year ago by my financial advisor to set up a trust, specifically to avoid inheritance tax upon my death. Is this trust going to be caught by these new measures?

Asked by
Posted Friday 10th December 2010

Q

When is a divorce not a divorce?

Asked by
Posted Thursday 9th December 2010

Q

I am about to marry for a second time. I have built up significant assets which I would like to pass on to my children from my first marriage. I was thinking of entering into a prenuptial agreement with my fiancé and was wondering whether it is worth doing. I hear such conflicting advice, and what about this recent case, has this made any difference?

Asked by
Posted Friday 22nd October 2010

Q

I am a UK citizen living in the US and am finding it very hard to find an ‘attractive’ collective investment fund. I have been told this is down to Passive Foreign Investment Companies (PFIC) rules. What is this and how can I combat it?

Asked by
Posted Tuesday 12th October 2010

Q

One of my Investment Managers keeps talking about “Behavioural Finance”. What do they mean?

Asked by
Posted Tuesday 21st September 2010

Q

I currently earn over £200,000 per annum and have a portfolio of investments that are actively managed. The gains exceed the annual allowance by a considerable margin. Following the increase in the rate of Capital Gains Tax to 28% announced in the emergency budget, is there anything I can do to reduce my tax bill?

Asked by
Posted Monday 16th August 2010

Q

I am a US citizen but have been living in the UK for the past 17 years. I was relocated to the UK by my employer, and I will probably remain in the UK until my retirement. Are there any US and/or UK tax benefits to me renouncing my US citizenship?

Asked by
Posted Thursday 12th August 2010

Q

I have been reading in the press recently that if you are not a UK citizen it is going to become more difficult to divorce in the UK. Is this true?

Asked by
Posted Tuesday 20th July 2010

Q

I have a buy to let property which I have owned for some time and is worth considerably more than what I paid for it. I also have a portfolio of shares which are showing gains rather than losses. I am concerned that the CGT rate will increase soon but am not sure if there is anything practical that I can do? I use the income from both for my family’s general living expenses.

Asked by
Posted Monday 14th June 2010

Q

How do financial circumstances at the time of a divorce affect the size of the settlement? Is there ever a good time to get divorced?

Asked by
Posted Thursday 10th June 2010

Q

I am a non-dom living in the UK and have seen several mentions in the press of a review of the non-dom tax rules under the new government. What exactly could this mean for me?

Asked by
Posted Monday 7th June 2010

Q

I am about to complete a take over of our family business which has been in our family for a generation. I have recently got married and do not have a pre-nuptial agreement. Is there anything I can do to protect the company if the marriage should break down? My wife acknowledges that the business is our family business and says that she would not claim against it.

Asked by
Posted Tuesday 4th May 2010

Q

I am a property developer and two of my projects have failed. My creditors are chasing me and they are threatening bankruptcy. My wife and I have decided to separate. How can I safeguard the future for her and the children? The only remaining asset is our family home.

Asked by
Posted Tuesday 30th March 2010

Q

Due to the economic downturn the value of my assets has dropped. I have heard that now may be a good time to divorce – is this correct?

Asked by
Posted Wednesday 24th March 2010

Q

For some time I have been considering buying a property abroad and feel that now is the right time to do so. I am looking to buy in the Caribbean and possibly in Barbados. What issues should I bear in mind?

Asked by
Posted Thursday 18th March 2010

Q

I am at the start of divorce proceedings and am concerned about the tax implications. I have heard that you might have to pay capital gains tax on the assets you get as part of the divorce settlement - is this the case?

Asked by
Posted Thursday 11th March 2010

Q

I am growing increasingly worried about the effect of inflation on my portfolio, following the recent announcement that the CPI has risen sharply to 3.5%. What is the likelihood of significant inflation in the coming year and what strategies should I put in place to plan for this?

Asked by
Posted Tuesday 2nd March 2010

Q

What changes are going on in trusts law? What is the new ‘perpetuity period’?

Asked by
Posted Wednesday 3rd February 2010

Q

I have read that if I pay £30,000 and leave money offshore, I do not have to pay tax on it. Is that true, and how does it work?

Asked by
Posted Tuesday 19th January 2010

Q

I have heard that the Chancellor has frozen the nil rate band at £325,000 for 2010/11 in the Pre-Budget Report. Are there any other changes to inheritance tax (IHT) of which I should be aware?

Asked by
Posted Friday 11th December 2009

Q

What is a 'quickie divorce' and how do I get one?

Asked by
Posted Thursday 10th December 2009

Q

I have been making regular pension contributions for many years but have recently heard that with the reforms announced in this year’s Budget coming into effect, people should re-consider making pension contributions altogether. Is this true?

Asked by
Posted Tuesday 3rd November 2009

Q

I’ve heard that the rights for unmarried couples are changing. I currently live with my wealthy boyfriend of 20 years – what should I do if we split up?

Asked by
Posted Monday 2nd November 2009

Q

My spouse has just told me that they want a divorce. What main things do I need to watch out for financially in ensuring I get a fair split?

Asked by
Posted Wednesday 14th October 2009

Q

I've seen coverage of a divorce settlement 22 years on from the relationship breakup. I am in a similar situation in that I separated from my wife over 10 years ago but we never divorced. My assets have significantly increased in that time frame, how do I protect them if she decides to divorce me now?

Asked by
Posted Tuesday 21st July 2009

Q

What does the Radmacher divorce case mean for my pre-nuptial agreement? Is it now legally set in stone?

Asked by
Posted Thursday 2nd July 2009

Q

I am a trustee involved in litigation - how can I best prepare for the worst?

Asked by
Posted Thursday 25th June 2009

Q

The HMRC has announced details of a second tax amnesty aimed at recovering unpaid tax from holders of offshore accounts. It has been reported that HMRC will not limit the amnesty to offshore account holders, but will offer the same terms to any taxpayer coming clean on undisclosed funds. What does this mean for me?

Asked by
Posted Thursday 11th June 2009

Q

Does the Myerson case change anything in divorce law? And how can I avoid its pitfalls?

Asked by
Posted Thursday 16th April 2009

Q

What does the G20's announcement that the era of banking secrecy is over mean for tax havens?

Asked by
Posted Thursday 2nd April 2009

Q

For the first time I can remember, my portfolio is losing value across the board. Are there any upsides to this or tax reliefs I should be considering?

Asked by
Posted Tuesday 3rd March 2009

Q

I am non-UK domiciled but have been working and resident in the UK for many years, so I am soon going to have to pay UK tax on all my worldwide income or pay the £30,000 penalty to be able to continue as before, which I plan to do. All of my UK income is from my employer and taxed under PAYE so I have never had to complete UK tax returns before. A friend of mine in a similar position has been advised to open a special bank account before April 5th, 2009 to deal with any money he wants to bring into the UK, but he could not remember the details. I have not heard of this, and wonder if you know any more details? Is there anything else I should be aware of?

Asked by
Posted Monday 16th February 2009

Q

I am a high-earner who is facing being made redundant. I know my basic rights but would like to know what else I should be aware of if I am sacked.

Asked by
Posted Thursday 5th February 2009

Q

What action can I take against a hedge fund if I feel the partners have not acted responsibly with my funds?

Asked by
Posted Monday 1st December 2008

Q

Is it possible to get pre-nups for non-marital relationships (eg. cohabitation)?

Asked by
Posted Saturday 22nd November 2008

Q

Is there any legal redress if my bonus is not awarded this year?

Asked by
Posted Saturday 22nd November 2008

Q

What are the advantages, disadvantages and risks of investing in venture capital?

Asked by
Posted Monday 20th October 2008

Q

How can I protect my assets from "creditors and predators"?

Asked by
Posted Thursday 2nd October 2008

Q

I am in the process of selling my property. Contracts were about to be exchanged but at the eleventh hour my buyer wanted a significant price reduction. I have refused and he will not now proceed. I have incurred legal and other costs etc, and now have to find a new buyer. Does the former buyer have any liability for the costs I have incurred?

Asked by
Posted Thursday 25th September 2008

Q

I own the lease to my house which has 60 years left to run, at a rent of £400 pa. The Landlord has indicated he may be willing to sell the freehold to me or agree a lease extension of 50 years. Will continuing downward property values affect the price I pay for the freehold or the extended lease? Should I hold on until prices reduce further?

Asked by Yasmin Uddin
Posted Thursday 25th September 2008

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