Capital Gains Tax on Chattels Sold We recommend checking the capital gains tax on chattels, and any commissions applying, before you agree to sell personal possessions. Avery Associates can provide you with a valuation certificate, whereafter what you do next is over … [Read more...]
Property and The Matter of Probate
Property means different things to different people in the popular vernacular. However under English probate law, the term refers to the things we possess. That ownership follows us to the grave, so to speak. This brings us around to property and the matter of … [Read more...]
Chattels and Letters of Wishes
Do you remember when you last updated your will and testament, and were left confused by the legal terms the solicitor used? Your head was spinning with words like probate, laws of succession, chattels and letters of wishes. Many followers of our blog write back and … [Read more...]
Property Chattels and Fixtures in Probate
Executors of deceased estates may find themselves dealing with fixed property chattels and fixtures attached thereto. They may have to sell the assets and ask a sitting tenant to vacate. Although the deceased person could also have been a tenant themselves, and lived in … [Read more...]
Chattels of a Deceased and Chargeable Gain
The chattels of a deceased person may attract capital gains tax in the United Kingdom under certain circumstances. The current tax rate at the time of publishing is 24%. This can add up to a sizeable sum. It may be well worthwhile whittling away within the law for the … [Read more...]
Portable Chattels That You Can Mortgage
A chattel, under UK law, means any possession other than freehold land. This definition includes both tangible goods that we can touch, and leasehold interests that we can sell and trade. This article narrows the field to portable chattels, and how we can use them as … [Read more...]
Probate for Chattels Protects Your Intentions
Our chattels are the movable possessions that we own, and treasure as they become part of our lives. Their memories, and value, may also attract interest from friends and family members. We should mention those whom we wish to inherit significant chattels in our wills, … [Read more...]
Personal Property And Chattels In Law
The law sometimes has special names for things to avoid confusion between them. Personal property and chattels often boil down to the same thing, although this is not always the case. However, when solicitors speak of ‘chattels’ they should all be on the same … [Read more...]
The Value Of An Estate for Probate
Probate is a somewhat-dated legal term referring to the process for closing out estates. However, only the net value will pass to the heirs after HMRC has taken its inheritance tax slice. The value of an estate includes everything the person owned at the time their … [Read more...]
Probate Chattels and Inheritance Tax Unpacked
‘Chattel’ under probate law means any item of personal property you could touch, and move if you wanted to. This article discusses the implications of probate chattels and inheritance tax in deceased estates, However, this is merely an introductory overview, and you … [Read more...]
