Stronachs Logo

Private Client

The Burial and Cremation (Scotland) Act 2016 (‘2016 Act’) has now been on the statute books for one year. The Act provides a comprehensive and modern framework for funeral arrangements in Scotland.  This Insight takes a closer look at some of its key provisions.

While non-domiciled individuals (“non-doms”) have traditionally received favourable tax treatment in the UK, a number of reforms were announced in the 2015 summer Budget to widen the scope of the UK tax net.  Last week’s Finance Bill contains a number of provisions which bring these changes into force from 6 April 2017.

Yesterday Chancellor Philip Hammond delivered his first and only Spring Budget.  Although, as anticipated, the Budget was relatively uneventful, a number of previously announced changes which may affect clients will come into effect from April. This Insight provides a summary of the key measures to look out for. 

The new year brings with it the end of the first reporting period under the Common Reporting Standard (CRS), a measure designed to assist in the fight against international tax evasion by requiring “Financial Institutions” to identify and report to their local tax authorities information on individuals who are tax resident in one country but who receive payments in another country.  This note summarises the obligations under the CRS as they apply to UK registered charities.

In January we reported on the provisions of the Succession (Scotland) Bill 2016, which went on to receive Royal Assent on 3 March 2016. While some administrative provisions came into force on 4 March, the remaining sections will come into full effect on 1 November.  

This insight reports on the main changes.

Significant changes to Scottish Succession law are on the way with the enactment of the Succession (Scotland) Act 2016 (“the 2016 Act”) due to come fully into force on 1 November 2016. One area of reform relates to the effect of divorce on Wills.  Here, we summarise the changes and also examine other common succession issues arising for clients who have been married more than once.

The Scottish Charitable Incorporated Organisation, or “SCIO”, is the newest form of charity structure in Scotland.  Five years on from its introduction, over 1,000 SCIOs have been established.  An increasing number of clients are choosing a SCIO rather than a charitable trust or company limited by guarantee.  Read on to find out more about the key features of SCIOs.

 

Chambers UK 2018

Contact Info

ABERDEEN OFFICE
28 Albyn Place, Aberdeen AB10 1YL
Tel: +44 1224 845845

 

INVERNESS OFFICE
Camas House, Fairways Business Park,
Inverness IV2 6AA
Tel: + 44 1463 713225

The Legal 500 logo