Government Warning: Inheritance Tax can damage your wealth (preservation)!
by Douglas Blanchard, Financial Adviser at James & George Collie Financial Management Now that the liberalisations to the pension system have had an opportunity to bed in, one of the most generous – and transformative – options to consider is the ability to pass on virtually all types of pension funds outside of the saver’s […]
New Tax On The Purchase Of Second Homes And Buy To Let Properties
The Scottish Finance Secretary, John Swinney, announced in December, 2015, the introduction of a new 3% charge payable on the purchase of second homes in Scotland, including buy to lets, effective as of 1st April, 2016. The move mirrors a similar proposal previously outlined by the UK government. The 3% charge (payable in addition to […]
Every Cloud…
So here we are again! Recession has hit the North-East once more as well as the global market due to the fall in oil prices. As many in the profession know this is cyclical but with aging oil fields we need to be armed to deal with the fact that this has a huge impact […]
Adopting a Child: How we can help
Adopting a child in Scotland is a formal legal process, whereby all the rights and responsibilities relating to a child are transferred to the adoptive parents. Once the Court grants the adoption order, the adopters become the children’s legal parent or parents. This decision is permanent and the child’s birth parents will no longer have […]
Happy New Year!
What? Happy New Year? But that was months ago, even Easter has come and gone. Indeed, but 6th April is the start of the new tax year, so what are your Financial Resolutions? Maybe you haven’t thought about it yourself, so here a few for you to think about: Use your allowances – you have […]
Financial implications of the proposed new rules on energy efficiency in commercial buildings
The Assessment of Energy Performance of Non-Domestic Buildings (Scotland) Regulations 2016 are due to come into force on 1st September 2016 and will mean that certain commercial properties must achieve a minimum energy performance level (likely to be an E rating) in order to comply with the Regulations. This means that commercial properties with an […]
FORGET BREXIT – THE RIGHT TO BUY YOUR COUNCIL HOUSE ENDS ON 1ST AUGUST, 2016
With the Brexit debate dominating our news headlines for the past few months, you would be forgiven for thinking that this is the most important legal matter of the year. A ‘leave’ vote will end an historic Tory legislative milestone – membership of the European Union. However, in Scotland, there is another very important piece […]
Matrimonial implications of the new Succession legislation
The Succession (Scotland) Act 2016 was enacted earlier this year and when it comes into force it will introduce not only substantial changes to the Law of Succession in a wider sense but also in relation to matters of particular interest to family lawyers and those who are going through a separation. […]
2016 Starts to Look a Bit More Rosy – Despite the Brexit!
By Scott Middleton, Chartered Financial Planner In our last market commentary in February we were coping with the increased anxiety caused by falling equity markets both in the UK and abroad. This has been replaced by general feeling of wellbeing as the reversal in fortunes of equities has seen an almost total rebound in the […]
Succession (Scotland) Act 2016
The Succession (Scotland) Act 2016 will come fully into force on 1st November 2016. This is the first significant reform in this area of law for over 50 years. The 2016 Act implements a number of technical legal changes and addresses a number of anomalies within the current legal framework. This Act is likely […]