Andrew Goldstone and Victoria Howarth review recent developments, including changes to intestacy rules, relevant HMRC consultations, the Cooke case and recently signed tax information exchange agreements
The Inheritance and Trustees’ Powers Bill recently received royal assent and is due to come into force on 1 October 2014.
First the Inheritance and Trustees’ Powers Act (ITPA) 2014 makes major changes to the intestacy rules for married couples and civil partners (the Administration of Estates Act 1925 s 46(1)(i)).
If an individual dies without making a will where they leave a spouse or civil partner but no children everything they own will now pass to their surviving spouse...
