by H4r0ld83nj4m1n@ | Sep 29, 2022 | Estate Planning, Fine Art, Wills, Trusts and Probate
The Conditional Exemption Tax Incentive Scheme provides an opportunity to defer payment of Inheritance Tax or Capital Gains Tax when an item of pre-eminent importance is passed to a new owner either by gift or by inheritance. Pre-eminent? There are six qualifying...
by H4r0ld83nj4m1n@ | May 5, 2022 | Fine Art, Wills, Trusts and Probate
For some wealthy individuals a great deal of their income is spent on art or other luxury assets. Levels of spending can be such that significant proportions of their wealth are represented by their collectibles. As a solicitor advising individuals and trustees who...
by H4r0ld83nj4m1n@ | Apr 26, 2022 | Estate Planning, Fine Art, Wills, Trusts and Probate
As a general rule assets of a deceased over the value of the nil rate band (currently £325,000) are chargeable at 40% inheritance tax The Acceptance-in- Lieu scheme (“AIL”) Since 1910 the UK government has encouraged those administering estates, responsible for...
by H4r0ld83nj4m1n@ | Jan 31, 2022 | Fine Art, Private Clients
The European Parliament voted on 19th April 2018 in favour of new anti-money laundering provisions, some of which will affect “persons trading in works of art”. The new provisions of the “5th Anti-Money Laundering Directive” will take effect in 2019 and extend...
by H4r0ld83nj4m1n@ | Sep 25, 2020 | Fine Art, Private Clients
Patents reward originality, and inventions that are obvious developments on pre-existing designs do not qualify for protection, however successful they may be. In a ground-breaking case on point, patent protection was denied in respect of a one-man invention...
