Posted by Communications Director Apr 1st, 2010, in Wills, Probate and Trusts
Rachel Conroy, a Harrison Drury trusts’ expert, outlines the new trust rate of income tax that comes into place 6th April 2010.
From 6 April 2010 the trust rate of income tax increases by 10% to 42.5% for dividends and 50% for all other income.
Trustees should consider:
1. Their investment policy – is income necessary or would investments producing capital growth rather than income be appropriate? Capital Gains Tax would be charged on the increase in value when the investment was sold. Capital Gains Tax is currently charged at a relatively low rate of 18% so this could result in a tax saving. (If this is to be considered appropriate investment advice should always be taken).
2. Which of the beneficiaries they choose to appoint income to. If the trustees appoint income in favour of beneficiaries who pay no tax or pay tax at the lower rate the beneficiaries may then be able to reclaim some of the tax paid by the Trustees from HM Revenue & Customs.
3. Whether the trust is still necessary. In some cases it may be appropriate to wind up the trust and appoint all of the funds to one or more of the beneficiaries.
Please get in touch on 01772 258321 if you have any queries.
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Posted by Communications Director Mar 25th, 2010, in HD comment, Property
Owen McKenna from Harrison Drury, gives his verdict on the Budget from a property perspective. He said:
In my opinion the budget was very much made with one eye on the upcoming election – nothing too contentious that may alienate the electorate. From a property lawyer perspective, the potential savings in SDLT arising from the increase in the SDLT threshold are a good idea but having considered the detail of the proposals, there are a number of practical issues that leave questions unanswered.
For the property industry, some of the noteworthy issues. Follow this link to find out. (more…)
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Posted by Communications Director Mar 23rd, 2010, in HD comment
Hesham Sabry, a commercial property expert at Harrison Drury, outlines his predictions for tomorrow’s Budget. The comments featured in today’s Lancashire Evening Post.
“Alistair Darling’s final budget before the general election will be geared towards maintaining stability and, I believe, will contain few real surprises.
“However, given the current economic climate, where many businesses both big and small are still struggling, it would be good to see a reduction in the corporate tax burden to help encourage growth.
“By reducing the corporation tax rate, or expanding the types of relief available, this could potentially have the effect of stimulating movement in the property sector which would help boost the economy.
“In essence, I would welcome a budget focused on policies to help economic growth and prevent a fall back into recession rather than the introduction of further complex anti-avoidance measures.”
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Posted by Communications Director Mar 16th, 2010, in HD news
Harrison Drury has expanded its private client department after appointing Rachel Conroy.
Rachel, from Burnley, will be based at Harrison Drury’s Preston office where she will join the growing wills, probate and trusts team.
The 26-year-old specialises in complex trusts, wills, inheritance tax planning and estate management for the firm’s wide range of clients, including its high net worth and commercial clients.
Rachel joins from Burnley-based law firm Smith Sutcliffe, where she trained, qualified and spent more than four years with its wills, probate and trusts team.
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Posted by Communications Director Feb 10th, 2010, in HD news
Harrison Drury has appointed employment expert Roger Spence to launch a new service to meet increasing demand during the recession.
Roger, who joins from Preston law firm Napthens Solicitors, will head our new team and act on a wide range of employment issues for local businesses. (more…)
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Posted by Communications Director Jan 8th, 2010, in HD news
Harrison Drury has expanded its team again after appointing its fifth specialist solicitor in 12 months – leading corporate and commercial lawyer, Andrew Page.
Andrew was previously a partner at Brabners Chaffe Street’s Manchester office, where he first worked with Harrison Drury’s managing partner, John Chesworth, and fellow consultant, Amanda Webster.
He specialises in corporate deals including acquisitions, management buy-outs and disposals ranging in value from £100,000 up to £15 million. He also acts on shareholder agreements, LLPs and trading terms and conditions.
The 41-year-old qualified as a solicitor in Milton Keynes in 1994 and over the years has worked in the Isle of Man and for North West law firms Eversheds and Taylors.
John Chesworth, Harrison Drury’s managing partner, added: “Andrew is vastly experienced and is a highly regarded professional in the corporate and commercial field. His appointment is a major coup for Harrison Drury and demonstrates our commitment to delivering quality services for our clients.”
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Posted by Communications Director Jan 6th, 2010, in HD news
(pic L-R): Tracy Rhodes, Andrew Bartlett, Heather Wood, Liz Stephens and John Chesworth
Harrison Drury has opened a brand new office in Garstang as we look to buck a recent trend which has seen several legal practices close in the town.
Our new office is located on Park Hill Road, Garstang, adjacent to the new Booths supermarket, and will provide a full range of commercial and private client services. (more…)
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Posted by Communications Director Dec 20th, 2009, in HD news
The Blackburn office of Harrison Drury has celebrated a ‘fantastic’ first year in business after substantially exceeding targets.
Harrison Drury LLP was launched by Greg Boyes and Andy Herricks during the recession, in the autumn of 2008. Since then the firm has attracted a wealth of new clients and reinforced its existing relationships.
Greg Boyes, partner, said: “It’s been a fantastic first 12 months in business and we have exceeded our expectations. To surpass all the goals which we set ourselves is very satisfying and all the more so given that we launched the business from a standing start in the middle of one of the worst recessions in recent history.”
Harrison Drury LLP, based at Cunningham Court, Shadsworth Business Park, Blackburn, works in conjunction with Preston-based law firm, Harrison Drury and Co.
Andy Herricks, partner, added: “Our aim now is to consolidate the existing business before making further appointments in 2010 to expand our services throughout Pennine Lancashire and beyond.”
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Posted by Communications Director Nov 17th, 2009, in HD news
Harrison Drury have won the Downtown Preston In Business Professional Services Award 2009. We were honoured at a glamorous dinner held at the University of Central Lancashire. The award, sponsored by the university, was hotly contested between several city law firms including ourselves, Napthens and Marsden Rawsthorn. Our Managing Partner John Chesworth collected the award on behalf of the firm, followed by a night of celebrating with partners staff and clients. Thank you to everybody who voted online for us. The award can be seen in pride of place in our Preston office reception.
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Posted by Communications Director Oct 21st, 2009, in HD news
we are proud to announce that we have been nominated for the Downtown Preston In Business Six in the City Awards. The category we have been nominated for is “Professional Services” and the winner is decided by an online vote. We would very much appreciate your support and to do so please click here and register your vote.
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