Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
Running a family business can be all-consuming, but taking time out to plan for the future is important, and doing this properly is the key to successful succession planning.
When a person dies, a certain amount of the estate they leave behind can be passed on to their loved ones free of Inheritance Tax. If the person does not use their tax-free allowance, they may pass this on to their spouse or civil partner - this is known as the transferable nil-rate band. In this post, we look at how the transferable nil-rate band works and answer some of the questions you may have.
Chancellor, Rishi Sunak, has made the following announcements today:
The official deadline for filing a Self Assessment tax return for 2019-20 was 31 January 2021. However, in a last-minute move, HM Revenue & Customs (HMRC) extended the Self Assessment filing deadline to the 28 February 2021. In this article, we look at the extension to the deadline and highlight key dates and issues you need to be aware of.
If you have just raced to complete your Self Assessment tax return, you are not alone. Last year, HMRC reported that around 700,000 taxpayers left their tax return to the last day in 2020, with 26,500 people submitting their return between 11 pm and midnight - the last hour before the deadline. However, there are many advantages to preparing and submitting your Self Assessment tax return in advance. In this post, we look at some of the benefits of submitting your tax return early.
