We often come across partnerships in the context of farming families. These are usually general partnerships, although occasionally they are Limited Liability Partnerships (LLPs). The benefit of an LLP is that it limits the personal lability of the partners; however LLPs require more administration than general partnerships (for example annual accounts must be submitted to Companies House). An LLP might be particularly appropriate where trustees act as partners.
There is (of course) speculation about what the Chancellor will announce in terms of tax changes as part of his Spring Budget scheduled for 3 March. Throughout the pandemic there has been speculation about how the Treasury will move to balance the books after massively increased government borrowing to fund the pandemic response.
After an eagerly awaited budget (with huge speculation on what it might contain) what did we learn about tax changes?
Many thought tax rates would go up, but in fact the manifesto pledges for income tax, national insurance and VAT have been respected: those rates, plus capital gains tax and inheritance tax rates, are unchanged. (The only increased rate was for corporation tax.)
A common form of estate planning in the US is for an individual to create and fund a Revocable Trust (sometimes referred to as a Living Trust or a Living Will). However, structures of this nature can be problematic for anyone with connections to the UK.
Kayleigh specialises in commercial property and the development of agricultural land, acting for both landowners and developers.
Womble Bond Dickinson (WBD) has advised one of its longstanding landowner clients on the sale of a greenfield site near Nailsea, to Taylor Wimpey Plc, one of the largest British-based housebuilding companies.
On Thursday 29 April our webinar series property owners post-COVID focused on residential development. Our panel comprised Alexander Dickinson, Partner, Womble Bond Dickinson as chair, Robert Drewett, Senior Counsel, Womble Bond Dickinson, Charlotte Pink, Principal, John Alison Land & Research, Nicholas Smail, Partner, Hazlewoods and Lucy Lockhart, Land and Planning Director for the Bristol Region, Taylor Wimpey UK Limited.
Womble Bond Dickinson (WBD) has strengthened its Private Wealth team in Newcastle with the recruitment of Alison Bragg who joins from Nicholson Portnell in Hexham.
Womble Bond Dickinson (WBD) has been awarded the Society of Trust & Estate Practitioners (STEP) Platinum Employer Partner accreditation, the highest of three accreditation levels awarded under STEP's Employer Partnership Programme.
The private wealth team at law firm Womble Bond Dickinson has been highly ranked in the 2021 Chambers and Partners High Net Worth guide, published last week (Friday 23 July). Published annually, the guide covers private wealth management work and related specialisms in key jurisdictions around the world, featuring leading lawyers and law firms of choice for individuals and families.