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Latest Legal News

Latest Legal News

10 Things about the Lobbying (Scotland) Act 2016...

Scotland’s new Lobbying Register is now live with the coming in to force of the Lobbying (Scotland) Act 2016 on 12 March 2018.

With the aim of increasing public transparency over face-to-face communications with the Scottish Parliament or Scottish Government all regulated lobbying (as defined in the Act) has to be registered. 

Not all lobbying is covered, however if you or your organisation undertake lobbying activity then you should understand what the new requirements are and what action you need to take.  

Here are “10 Things” you should know abou

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Burness admin

Having Your Inheritance Cake And Eating It

Many families own a holiday home. Often this is passed from generation to generation, with all the extended family using the property, sometimes separately and at different times of the year. However, there can be problems in passing ownership efficiently for Inheritance Tax (IHT) purposes.

One of the most efficient forms of IHT planning is to make a gift of an asset and then survive for 7 years. However, where any benefit is reserved in making the gift, the value of the asset is still included in the donor’s estate for IHT purposes on their death.

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Burness admin

Taxation of Termination Payments From April 2018

Employment Chemistry

From 6 April 2018, the way that termination payments are to be taxed is changing.

The change will apply where both the employment ended, and the termination payment was made, on or after 6 April 2018.

In short, from that date onwards, if a payment is made to an employee upon the termination of their employment and the employee has not worked their full notice period, a “slice” of the amount paid will be regarded as payment in lieu of notice (PILON) and be subject to tax and NICs.

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LChalmers