Tax, Trusts & wills

Question 1

How much does 1 will cost?

Answer 1

£320 inclusive of VAT

Question 2

how much does two wills cost?

Answer 2

£380 inclusive of CAT

Question 3

What form has to be completed by all US persons?

Answer 3

W9

Question 4

Annual personal tax allowance?

Answer 4

12, 570

Question 5

current rates of income tax on dividends?

Answer 5

8.75%, 33.75%, 39.35%

Question 6

basic income tax rate/ HRT / ART

Answer 6

20% £12,571 - £50,270
40% £50,271 - £125,140
45% £125,141 +

Question 7

CGT allowance

Answer 7

3000

Question 8

CGT rates?

Answer 8

18% BRT / 24% HRT/ART

Question 9

CGT rates on property?

Answer 9

18% BRT / 24% HRT/ART

Question 10

Under rules of intestacy what is the remaining spouse entitled to?

Answer 10

First £322k of easte and chattels. Half of the remainder if children

Question 11

cost of a tax return?

Answer 11

£250 + VAT

Question 12

cost to prepare one LPA?

Answer 12

£125

Question 13

what is the limit a settlor can put into a trust in any 7 year period before triggering a lifetime IHT charge?

Answer 13

£325,000 everything above the threshold is taxed.

Question 14

Annual trust administration fee

Answer 14

0.25%

Question 15

Benefits of a trust?

Answer 15

asset preservation and protection, intergenerational gifting, vulnerable beneficiaries, estate and tax planning, protects against divorce or remarriage, increased flex

Question 16

Killik complete fees?

Answer 16

1.75% for first 1m 1.5% thereafter