Bankruptcy solicitors Stockport from Bromleys? The Manchester orbital M60 motorway and A6 road to London cross at Stockport. Stockport railway station is a mainline station on the Manchester spur of the West Coast Main Line. Stockport is connected with Central London by Virgin Trains with services departing every twenty minutes and also has inter-city services to Sheffield, Liverpool, Birmingham, Bristol and other major cities.
If you’re a business owner or Director, it’s more than likely that at some stage your business will be involved in some form of property transaction. Whether you’ll be acting as a tenant, investor, developer or commercial landlord, ensuring you seek professional legal support from the offset is crucial. Our previous experience in commercial property means our specialised solicitors are highly knowledgeable and up-to-speed with the most recent developments in the field. Taking on a proactive approach, our team will be on-hand to advise, support and guide you through the process from beginning to end. Working closely with all relevant parties, our solicitors will first look to gain a complete understanding of your business needs in order to provide tailored commercial property solutions.
Bromleys is the trading name of Bromleys Solicitors LLP, formerly known as Bromley Hyde & Robinson. We’ve been based in Ashton-under-Lyne for over 175 years and are authorised and regulated by the Solicitors Regulation Authority. We have an excellent reputation with our clients, peers and the wider business community and pride ourselves on providing clear, concise legal advice. We have very strong links within the local community and we not only act for, but strongly support local charities. We also provide free legal advice at our twice-weekly clinics to members of the local community. We are proud to be associated with both Tameside and Manchester. Find more details at child access solicitors.
In 2013, Glyne Harris was made the Executor of a £1.2 million estate. Harris filed the Inheritance Tax Return and paid the initial Inheritance Tax that was due. As a large part of the estate was property, it was possible to pay the Inheritance Tax on the property in instalments. Harris made the mistake of paying the estate out to a beneficiary on the understanding that the beneficiary would settle the remaining IHT bill. Unfortunately for Harris, the beneficiary swiftly disappeared to Barbados without paying the remaining Inheritance Tax. Harris as the Executor was liable to pay the remainder of the £340,000 tax bill personally. Without the estate funds at his disposal, Harris appealed saying that he should not be liable, however a judge ruled that he is in fact personally liable. HMRC could potentially go after Harris’ own assets including his house. Whilst this is an extreme example of what can go wrong, it shows the responsibilities of being appointed an Executor and the advantage that having a professional can have.
There are a number of reasons for using Deeds of Variation such as providing for someone who had been excluded from a Will, taking account of differences in the financial positions of beneficiaries or just to pass assets on to the next generation. Many people will use Deeds of Variation for their own estate planning purposes, they may not need the money themselves and would only be inflating an already sizeable estate so it is better to skip themselves and pass it straight on to their children or grandchildren. Often people have not reviewed their Wills for many years and the laws have changed meaning that there are benefits to passing the estate in a different way to take advantage of new tax rules, this is another common reason for doing Deeds of Variation, it is possible that a Will may be less tax efficient at death than it was when it was signed. See additional info at https://www.bromleys.co.uk/.