Heating in Homes
Currently Scotland’s 2.5 million homes account for 15% of Scotland’s Greenhouse gas emissions. The vast majority of these homes use mains gas for heating and only 11% have a renewable...
Loss on sale of shares relief and the impact of falling valuations of shares in the context of legal rights calculations
The effects of COVID-19 have caused markets to be volatile and this has affected the value of investment portfolios and shareholdings.
Lifetime gifting: fall in value relief
There may be circumstances whereby someone gifts an asset other than cash (eg a house or shares) during their lifetime and this asset falls in value between the date of...
Removal of an executor
The recent case of Campbell v Campbell [2021] CSOH 3 involved a petition for the removal of executors on the grounds that they had acted improperly in administering an estate....
Capital Taxes Update
The UK Government’s most recent Budget saw fewer changes to Capital Taxes than might have been expected but there are still some points to note for taxpayers in Scotland as...
Taxation of Cryptoassets held by individuals resident in the United Kingdom
On the 21st February 2021 the most renown cryptoasset ‘Bitcoin’ rose to an all time high of over £41,000 per coin. The highs are starting to become more frequent and...
Gifting the Family Home – Reservation of Benefit Pitfalls
It is important to be aware of the ‘gifts with reservation of benefit’ rules to avoid creating an unexpected inheritance tax liability which might otherwise be avoided.
The Charity Test; where Public Benefit and Commerce combine?
In Office of the Scottish Charity Regulator, Appellant [2021] CSIH, the Inner House of the Court of Session dismissed two appeals by the Office of the Scottish Charity Regulator (OSCR)....
Is my Will and Power of Attorney enough?
Unlike a deed, a letter of wishes should not be legally binding, but it will be influential and persuasive. It should be read and stored alongside the deed it is...
Trusts for Vulnerable People
There are a number of reasons why an individual may decide to settle assets in trust and one of the most prominent is to protect family wealth and look after...
The Ever-changing Face of Support for Small-scale Renewables
An International Energy Agency Report in November 2020 found that renewables were set to account for 90% of the increase in worldwide power capacity in 2020, with rapid growth expected...