Archive for September, 2007
Friday, September 14th, 2007
First minister Alex Salmond has hinted at possible changes to the Scottish judicial system, including the ‘double jeopardy’ law.
The principle allows suspects to be tried for the same crime twice and Mr Salmond stated in first minister’s questions that he would address the issue, but careful consideration was needed and that there should be no "knee-jerk" alterations to laws.
Mr Salmond added that there were a number of potential changes in Scotland’s legal system that could be considered.
Leader of the Scottish Conservatives Annabel Goldie told the Courier: "This will mean that victims of serious crime in Scotland – and their families – will have access to the same level of justice as currently available in England and Wales, which they have been denied for the past four years."
It was recently reported that calls for reform of the Scotland’s trial system were made in a report by retired high court judge Lord Coulsfield.
Posted in Family Law | No Comments »
Thursday, September 13th, 2007
A report by a retired high court judge has called for changes to be made to Scotland’s trial system, it has been reported.
The paper, by Lord Coulsfield, appeals for improvements to the system to be made through legislation.
New policy was called for in order to clarify the legal requirements of disclosing information held by the Crown – that may clear an individual accused of a crime – to the defendant in question.
Lord Coulsfield commented: "I hope that this report will itself help to promote the clarity and security that the system of disclosure needs, as no doubt will future decisions of the higher courts."
Scotland’s Lord Advocate Elish Angiolini stated that the report marks a "significant step" towards the level of clarity required in this particular area of law.
In other news, reform of the ways in which consumers bid for houses in Scotland was recently called for by MSP Dr Bill Wilson.
Posted in Family Law | No Comments »
Wednesday, September 12th, 2007
Elderly people wishing to simultaneously aid their family financially and reduce their inheritance tax (IHT) should consider giving gifts via a trust, it has been suggested.
By making gifts to children through a gift plan trust, any growth on the investment in the fund is immediately outside the estate of the grandparent and a full IHT saving can be made if the grandparent survives the giving of the gift by seven years, according to Standard Life.
Estate Planning Specialist for Standard Life Assurance commented that it is not always feasible for grandparents to pass on capital while they are alive as they need to maintain a reasonable standard of living, thus it is only upon death that money is gifted and as such is subject to IHT.
Currently, IHT at 40 per cent is payable on the value of a deceased person’s estate that exceeds £300,000.
Prime minister Gordon Brown announced plans to increase the IHT threshold to £350,000 by 2010 in his last Budget as chancellor of the exchequer.
Posted in Inheritance Tax | No Comments »
Tuesday, September 11th, 2007
Two sisters who have claimed that the law treats them less advantageously than if they were a lesbian couple will take their challenge of Britain’s laws regarding inheritance tax (IHT) to the European court of human rights, it has been reported.
Joyce and Sybil Burden – both in their eighties – believe that their joint-owned home will have to be sold to cover IHT tax costs upon the death of the first sister. They will plead their case in front of 17 judges in Strasbourg.
IHT laws will likely result in both their estates being taxed upon their deaths, a situation that does not occur for those couples in civil partnerships or marriages, reports the Guardian.
The sisters argue that they should be treated as civil partners as they have lived together their entire lives.
An amendment to the civil partnership bill to extend benefits to family members over the age of 30 who had lived together for at least 12 years passed in the House of Lords was overturned in the Commons.
Civil partnerships have been legal in Scotland since December 5th 2005.
Posted in Inheritance Tax | No Comments »
Monday, September 10th, 2007
Consumers should examine their will every five years to ensure that people who will benefit from it are still alive and living at the same address, according to an independent financial advice firm.
Paul White, spokesperson for Belgravia, commented that it is "very difficult" for an individual to get probate if they are not physically in the country, noting that administration could be a "nightmare" when nominated executors live abroad.
He added that new additions to a family may also require changes in a will to be made.
If there were no second generation people in the family at the time of a will being written then a rewrite may be required in order to take them into account or to allow benefits to be passed on should their parents predecease them.
Recent research from Barclays Wealth indicated that 63 per cent of people in the UK have no will.
Posted in Wills and Executries | No Comments »
Friday, September 7th, 2007
The Telegraph has advised the government to look across the channel when considering reforms to inheritance tax (IHT).
According to the newspaper, France has experienced a property boom similar to the UK, meaning that more and more properties fall under French IHT thresholds.
However, French president Nicolas Sarkozy has increased the allowance on a main residence by 30 per cent, bringing significant change in the way wealth tax is calculated to the benefit of the owner.
Such a move was praised by the Telegraph and the paper has called for prime minister Gordon Brown to implement a similar policy.
Whether Mr Brown will take immediate notice of the Telegraph’s appeal remains to be seen but in the meantime there is expert advice on hand from solicitors to help consumers reduce their inheritance tax bill.
Making a will is crucial in avoiding IHT as it will ensure an individual’s assets go where they are intended to go and any estate planning done is effective.
There are also a series of IHT exemptions that a legal specialist can help in explaining, including the use of gifts and allowances that would not be liable under the tax.
The current IHT threshold stands at £300,000, above which level all estates are taxed at a rate of 40 per cent.
In his last Budget as chancellor, Mr Brown committed to raising the threshold to £350,000 by 2010.
Posted in Inheritance Tax | No Comments »
Thursday, September 6th, 2007
Alex Salmond’s programme for his first year in government was accused of being light on legislation after it was announced yesterday, it has been revealed.
Opposition parties claimed that the new first minister’s 11 proposed bills avoided a range of manifesto promises.
Legislation on airguns cannot be drawn up until the Scottish Executive is granted approval to continue from Westminster – due to the reserved status of firearms regulation – and council tax rates will be frozen until a consultation can be carried out to assess the viability of replacing the charge with a local income tax.
Acting leader of Labour Cathy Jamieson told the Scotsman that the new executive had failed to deliver on ambitious election promises.
Nicol Stephen, leader of the Liberal Democrats, told the publication that the scheme was "all dog and no dinner".
Mr Salmond was elected as first minister by the Scottish parliament on May 16th this year.
Posted in Commercial Law | No Comments »
Wednesday, September 5th, 2007
Scottish life expectancy has improved in the past ten years, according to a new report by the Registrar General for Scotland.
At birth, men in the country can now expect to live to the age of 74.6 and women can plan for a 79.6 year-long life.
In news that may interest those considering making a will, the report also indicated that average life expectancy in the country at age 65 is 15.9 years for males and some 18.6 years for females.
Men in Glasgow are now living past the age of 70 for the first time, according to the report.
Registrar General Duncan Macniven commented: "Our calculations show that people throughout Scotland are likely to live longer now than they did ten years ago."
It was recently reported that the Scottish Law Commission was considering the idea of an overhaul in succession laws in the country to take into account modern developments in society such as civil partnerships.
Posted in Wills and Executries | No Comments »
Tuesday, September 4th, 2007
The chair of a development and investment company has stated that he believes the buy-to-let market is in peril, according to the Scotsman.
Those seeking to invest in the buy-to-let market may be interested in Andreas Panayiotou’s comment: "I think everything is overvalued by 20 per cent. Things have been getting way out of control. Prices need to drop to bring returns above the cost of funds."
Mr Panayiotou added that people are involving themselves in the property market "because people say that residential is great" but he warned that many would-be investors lack experience in the sector.
Nigel Terrington of the UK’s largest buy-to-let lender disputed the claim that yields had fallen to around 3.5 per cent, telling the newspaper that across the UK yields have been around six per cent.
He added that while they are lower in expensive areas such as Edinburgh, landlords in university towns typically get a one per cent superior yield from student lets than other rentals.
The Ability Group is one of the UK’s biggest residential landlords.
Posted in Estate Agency | No Comments »
Monday, September 3rd, 2007
Consumers looking to buy homes in Edinburgh should be aware of planned cuts on opening hours for pubs in the city, in moves aimed at combating anti-social behaviour.
Authorities in the city plan to cut weekday opening times by an hour to midnight and will also require pubs to provide seating for half of all drinkers. Such rules could be in place within months, reports the Edinburgh Evening News.
The policy has been drawn up by the city council and states that pubs and clubs with little or no provision for seating, so called "vertical drinking establishments", have a significant bearing on the possibility of disorder and crime.
Marjorie Thomas, Edinburgh’s licensing convener said there were no plans to impose cuts on Friday and Saturday opening times.
Chairman of the Scottish Licensed Trade Association commented: "The stuff about vertical drinking sounds ridiculous and it is ridiculous. The theory is if people are standing in pubs they are more likely to cause trouble. We don’t believe that."
It was reported last month in the Edinburgh Evening News that calls were made to ease regulations and allow more bars and pubs to build external smoking shelters.
Posted in Commercial Law | No Comments »
