Look out for the Kite mark

About six weeks ago our firm was awarded the Law Society’s prestigious Quality Assured kite
mark in the field of Wills and Inheritance Taxation.

Very many firms already have the appropriate kite mark for conveyancing, which is almost an
essential mark enabling a firm to act on mortgage matters, but our Wills and Taxation quality is
far less common – possibly because of the ever-changing nature of taxation complexities, which
seem to come and go with every change of government or change of Chancellor. Of course we
cannot claim that other firms are less competent, but we can at least demonstrate that we have
satisfied the Law Society’s examination standard and competence audit.

We frequently come across firms administering a deceased’s estate who are unaware that the
ability to recover inheritance tax on shares that are later sold at a price below the probate figure
will be negated the sales of any shares that have increased in value.

And that the transfer of a second home by a husband to his terminally ill wife will uplift his base
value for Capital Gains Tax when she leaves the house back to him by her Will.

And that you can use your surplus capital to buy an annuity, which will count as surplus income
that can be given away without limit for IHT purposes. With that surplus income, why not use
it to pay the premiums on a policy in trust for your family?

These are just some of the examples of strategies that we employ to alleviate the taxation burden.

Checking with the Law Society you will find that there are only four firms in our county that bear
the Wills and Inheritance kite mark, and we are quite proud to be one of them.

For further advice about Will drafting and Inheritance Tax issues contact John Pulham at:-

Messrs Pulham & Co
Egmere House,
Market Place,
Saxmundham,
IP17 1AG
Telephone (01728) 602084 or e-mail jsp@pulham.co.uk