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About Private Client Law

When Private Clients ask questions, they expect answers - right away. But when you’re working across so many different areas of the subject day to day, it’s impossible to hold it all in your head. In addition finding the answer often means cross-referencing several different sources – from the latest legislation to the Law Society’s most up-to-date guidance.

Will Precedents

Precedents covering the most common scenarios in this area. Drafting notes accompany each clause - incorporating the latest developments like Will drafting considerations for inheritance tax residence nil rate band.

Court of Protection

Our Court of Protection topic covers both property and finance, and health and welfare Court of Protection applications. It’s geared at both the Court of Protection specialist practitioner and the occasional user.

Trust compliance

Topics include beneficial ownership transparency, the Money Laundering Regulations, the Trust Registration Service, obligations relating to data protection and GDPR and offences under the Bribery Act 2010.

Cross-referencing sources

When private clients ask questions, they expect answers quickly. But, working across lots of areas day to day, it’s impossible to hold it all in your head. We’ll help you cross-referencing several different sources.

Our Top Sources

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Latest Private Client Q&As

Q&As
In 2006, the deceased’s husband established a nil rate band trust (NRB) in his Will funded with a loan note from his wife in the amount of £285k. The only documentation for this arrangement was a loan note and the trust was not registered with the Trust Registration Service (TRS). The deceased's children wish to have the trustees appoint this to their own children. Do charges under the relevant property regime apply to the trust? Should the trustees retrospectively register the NRB trust with the TRS and report to HMRC?
Q&As
What test applies for determining whether someone is 'incapable of administering their property or managing their affairs' for the purposes of establishing whether a beneficiary suffering from a mental disorder would qualify as disabled for tax purposes?
Q&As
A settlor dies within seven years of a chargeable lifetime transfer (relating to a lifetime creation of a discretionary trust) and additional tax becomes payable as a result of their death. The settlor’s Will directs that any such additional inheritance tax (IHT) should be paid from their estate (and not from the trust). How is this treated for IHT purposes?
Q&As
Is a gift from a father (who is not domiciled in the UK nor long-term resident and who lives abroad with no connection to the UK) to his children (who are living in the UK but originally not from the UK) a potentially exempt transfer for inheritance tax purposes?
Q&As
Precedent: Discretionary Trust does not include the apportionment clause. Will this clause automatically apply or does it revert to the Society of Trust and Estate Practitioners (STEP) provisions? Should the deed also refer specifically to STEP provisions?
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Associated legal terms

Life interest

An entitlement to trust income or to the use of trust assets, but not the capital. Also called an possession'>interest in possession.

Salary-related occupational pension schemes

The two main types of occupational salary-related schemes are final salary schemes and career average schemes. The pension received by a member on retirement is based on the number of years of membership and their level of earnings either in the last years of employment (final salary) or over the course of employment (career average).

Venture capital trust (VCT)

A company whose shares are listed on an EU-regulated market and which complies with various other requirements. An individual investor in a venture capital trust is entitled to 30% income tax relief on the amount invested up to £200,000 provided that the investor's venture capital trust shares are held for at least five years. Investors in venture capital trusts also receive an exemption from capital gains tax on any gains on the sale of the venture capital trust's shares and exemption from income tax on dividends from the venture capital trust.
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