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Monthly Archives: January 2012

Independent Schools and Public Benefit

Summary: Guidance issued by the Charity Commission following the introduction of a public benefit test under the Charities Act 2006 suggested that many Independent Schools would not meet the test’s requirements. Last year this guidance was challenged by the Independent Schools Council through Judicial Review. The ruling in this case, given in October 2011, provides […]

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Inheritance Tax and Charitable Legacies

Summary: Legacies to charities are currently exempt from inheritance Tax (IHT). From the new tax year onwards they may carry the additional benefit of reducing the IHT rate payable on a deceased’s estate from 40% to 36%.  Richard Monkcom, Head of Druces’ Private Client team, reviews the new rules Relevant to: Individuals considering ways in […]

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Mortgage Express Vs Martin: Permission to Appeal Out of Time

Summary: The Court of Appeal dismissed an application made by the Claimant for an extension of time for appealing and for permission to appeal out of time. The Court of Appeal held that the Defendant, who was of relatively modest means, had the right to expect the Claimant, a substantial organisation, to abide by the […]

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A Warning for Charities and Testators, Ilott Vs Mitson

Summary: It used to be the case that where an adult child of a deceased lived independently and was not in financial need, they would be unable to make a successful claim for reasonable financial provision where they had been left out of a Will. This position has been challenged by the ruling in Ilott […]

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Government Shelves Proposal to Change Law in Relation to Pre-Pack Sales

Edward Davey MP has confirmed that the Insolvency Service has decided not to implement changes to the law regarding pre-pack administrations having consulted on proposals to introduce new legislative measures. This is the conclusion of a lengthy consultation which caused disquiet amongst many insolvency practitioners, who considered the proposals to change the legislation were misguided, […]

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Serving Joint Tenancies of Property

Summary: Where two or more persons own a property together, they may be joint tenants or tenants in common. When a co-owner of property dies, the nature of their ownership determines how the deceased’s ‘share’ is treated after death. In the case of a joint tenancy, the surviving co-owner will own the entire property. Under […]

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Do you have an iWill?

Summary: From email accounts to music and photographic collections and social networking profiles, many individuals now have a Digital Estate, perhaps without even realising it. Unlike physical assets of sentimental or monetary value, it is easy to overlook what happens to your Digital Estate when you die. Unfortunately the law in this area is underdeveloped. […]

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Residential Tenancy Deposit Schemes

Summary: Residential Landlords are required to place tenancy deposits in approved tenancy deposit schemes. Failing to do so can lead to financial and other penalties. A landlord will not be able to serve a section 21 notice (to recover possession of its property) at a time when the deposit is not being held in accordance with […]

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Office Space for Entrepeneurs

The Government is expected today to announce plans for small firms and new enterprises to be offered office space in unused Government buildings at low rent for a year, as part of its aim to make 2012 “the year we get behind Britain’s grafters, doers, hard-workers and entrepreneurs” (UK Press Association). Speak to Susan Perry or Toby Stroh […]

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‘Out Of Court’ Appointments of Administrators

Following two recent contradictory judgements in the High Court given on the same day, there is further confusion over the correct procedure over the appointment administrators to a company by means of the so-called “out of court” procedure. The problem arises only where there is no debenture holder having a qualifying floating charge (QFC) as the […]

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