Latest news with #IrwinMitchell
Telegraph
6 days ago
- Business
- Telegraph
Double-digit rise in northerners paying inheritance tax
Northern households are increasingly being caught in the Government's inheritance tax raid, new data shows. Since 2015, there has been a 40pc surge in the number of families in the North West forced to pay death duties due to the Government's frozen thresholds. This was the biggest increase of any region in England. Properties in the north of the country are far cheaper than in the south, yet frozen thresholds coupled with house price inflation mean smaller estates are being dragged into inheritance tax. The top three postcodes which saw the sharpest rise in families paying inheritance tax between 2015 and 2022 were Wolverhampton, Bradford and Dundee, according to data from HM Revenue and Customs obtained by the law firm Irwin Mitchell in a Freedom of Information request. The number of London families dragged into the net rose by only 4pc over the same period. Each individual can leave behind up to £325,000 without paying inheritance tax, however, this tax-free allowance has been frozen since 2009 despite soaring house prices. Had the Government increased the threshold in line with inflation, it would be worth almost £520,000 today. It means families who might not consider themselves wealthy are increasing forced to pay the 40pc charge. The modest rise in Londoners paying inheritance could reflect the use of tax avoidance strategies among the wealthy elite, according to Irwin Mitchell. Despite this, the amount of tax paid by Londoners still leapt by over 40pc due to the number of high value estates in the capital. Families in inner London forked out £831m in 2015, but Irwin Mitchell predicts this will hit £1.6bn by 2026-27. Meanwhile, it expects the tax haul in Wolverhampton to soar from £8m in 2015-16 to £38m by 2026-27 – an increase of 375pc in just over a decade. England has long suffered from a North-South divide, with workers in the South East earning on average £12,800 more than in the lowest paid areas of the country such as Burnley and Huddersfield, according to research from Centre for Cities. The average property in the North West sells for about £250,000, almost half the value of a typical home in the South East. Chris Etherington, of accountants RSM, said the number of northerners paying inheritance tax will rise again because of the changes to business tax relief announced in the October Budget. As part of her maiden budget, Rachel Reeves slashed tax relief for business owners and farmers while also making pensions liable for the 40pc charge, dragging an estimated 10,000 new families into the net. Mr Etherington said: 'There are significant numbers of privately owned businesses in the North that will be impacted by the changes to inheritance tax reliefs from April 2026, and it is inevitable more estates will have a tax bill to pay as a result. 'There are thriving entrepreneurial businesses in the North, in particular in industries such as manufacturing and technology, and many business owners are still unaware of the inheritance tax implications that lie ahead.' This comes as a study by Family Business UK warns that the new inheritance tax rules for family businesses and farmers could wipe almost £15bn off the UK's economic activity. Andy Butcher, of wealth manager Raymond James, said: 'How are business owners supposed to plan for their succession when the business will now likely have to be sold on their death to cover inheritance tax? It's a short-term cash grab which will cause significant damage to the UK economy in the longer term.' Homeowners passing on their main property can claim an additional £175,000 allowance called the residence nil-rate band. Couples can share their allowances which means they can protect up to £1m from the 40pc charge.
Yahoo
6 days ago
- Business
- Yahoo
Double-digit rise in northerners paying inheritance tax
Northern households are increasingly being caught in the Government's inheritance tax raid, new data shows. Since 2015, there has been a 40pc surge in the number of families in the North West forced to pay death duties due to the Government's frozen thresholds. This was the biggest increase of any region in England. Properties in the north of the country are far cheaper than in the south, yet frozen thresholds coupled with house price inflation mean smaller estates are being dragged into inheritance tax. The top three postcodes which saw the sharpest rise in families paying inheritance tax between 2015 and 2022 were Wolverhampton, Bradford and Dundee, according to data from HM Revenue and Customs obtained by the law firm Irwin Mitchell in a Freedom of Information request. The number of London families dragged into the net rose by only 4pc over the same period. Each individual can leave behind up to £325,000 without paying inheritance tax, however, this tax-free allowance has been frozen since 2009 despite soaring house prices. Had the Government increased the threshold in line with inflation, it would be worth almost £520,000 today. It means families who might not consider themselves wealthy are increasing forced to pay the 40pc charge. The modest rise in Londoners paying inheritance could reflect the use of tax avoidance strategies among the wealthy elite, according to Irwin Mitchell. Despite this, the amount of tax paid by Londoners still leapt by over 40pc due to the number of high value estates in the capital. Families in inner London forked out £831m in 2015, but Irwin Mitchell predicts this will hit £1.6bn by 2026-27. Meanwhile, it expects the tax haul in Wolverhampton to soar from £8m in 2015-16 to £38m by 2026-27 – an increase of 375pc in just over a decade. England has long suffered from a North-South divide, with workers in the South East earning on average £12,800 more than in the lowest paid areas of the country such as Burnley and Huddersfield, according to research from Centre for Cities. The average property in the North West sells for about £250,000, almost half the value of a typical home in the South East. Chris Etherington, of accountants RSM, said the number of northerners paying inheritance tax will rise again because of the changes to business tax relief announced in the October Budget. As part of her maiden budget, Rachel Reeves slashed tax relief for business owners and farmers while also making pensions liable for the 40pc charge, dragging an estimated 10,000 new families into the net. Mr Etherington said: 'There are significant numbers of privately owned businesses in the North that will be impacted by the changes to inheritance tax reliefs from April 2026, and it is inevitable more estates will have a tax bill to pay as a result. 'There are thriving entrepreneurial businesses in the North, in particular in industries such as manufacturing and technology, and many business owners are still unaware of the inheritance tax implications that lie ahead.' This comes as a study by Family Business UK warns that the new inheritance tax rules for family businesses and farmers could wipe almost £15bn off the UK's economic activity. Andy Butcher, of wealth manager Raymond James, said: 'How are business owners supposed to plan for their succession when the business will now likely have to be sold on their death to cover inheritance tax? It's a short-term cash grab which will cause significant damage to the UK economy in the longer term.' Homeowners passing on their main property can claim an additional £175,000 allowance called the residence nil-rate band. Couples can share their allowances which means they can protect up to £1m from the 40pc charge. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Examiner
14-05-2025
- Entertainment
- Irish Examiner
Warwick Davis's family facing 'difficult next chapter' as wife's inquest begins
Actor Warwick Davis and his family are bracing themselves for "difficult next chapter" as the inquest in to the death of his beloved wife Samantha is set to begin. Ms Davis, who was also an actress, died aged 53 at University College Hospital in London on March 24 last year. Her family hope that her inquest, which is due to take place at Inner West London Coroner's Court on Monday, will "at last provide us with answers" as trying to come to terms with her death has been "incredibly difficult". Warwick Davis, known for his roles in Star Wars and the Harry Potter films, dedicated his Bafta film fellowship award to Ms Davis during an emotional tribute at the ceremony in February. The couple met during the filming of 1988 fantasy movie Willow, in which he had a starring role as the hero Willow Ufgood. They married in 1991 and have two children. The family have instructed lawyers at Irwin Mitchell to support them through the inquest. In a statement released through their solicitors ahead of the hearing, the family said: "We know that the resilience and strength Sammy instilled in all of us will guide us through this difficult next chapter. "Her love, support, and determination is a legacy we want to continue. 'Sammy's Helping Hands fund', which was set up in her honour, has already had a huge impact on young people in the dwarfism community, and will continue to support families all over the UK moving forwards. "The last year and trying to come to terms with Samantha's death has been incredibly difficult. "However, we hope that the inquest will at last provide us with answers. "We would like to take this opportunity to thank everyone for their kindness and well-wishes to us all." In February, Davis dedicated his Bafta film fellowship award to his late wife with an emotional tribute. He said "life has been pretty tough" since she died, and "she was always so supportive of my career, encouraging me to grab every opportunity with both hands". He added: "Thanks to the support of our wonderful children I've been able to continue working and engaging in life." Warwick Davis (2nd L) with (L-R) Samantha Davis, Lloyd Davis and Annabelle Davis attend the premiere of Disney Pictures and Lucasfilm's "Star Wars: The Last Jedi" at The Shrine Auditorium on December 9, 2017 in Los Angeles, California. Picture:Warwick Davis rose to fame as an 11-year old after being cast as an Ewok in Star Wars: Return Of The Jedi. He reprised the role Willow Ufgood in a 2022 Disney+ series. Together with Samantha, he co-founded Little People UK in 2012 to help individuals with dwarfism and their families. The pair also starred together in H arry Potter And The Deathly Hallows: Part 2, where Samantha played a goblin. He played Professor Flitwick in all eight films in the Harry Potter franchise and also portrayed the Gringotts Wizarding Bank goblin Griphook.
Wales Online
08-05-2025
- Health
- Wales Online
Man came back from holiday with 'flu' and spent four months in hospital
Man came back from holiday with 'flu' and spent four months in hospital Steven Percy was left fighting for his life and after recovery was unable to swallow for months Steven Percy in hospital A British holidaymaker was left fighting for his life for four months after becoming ill at a four-star resort - just hours after proposing to his girlfriend. Steven Percy, 67, was staying at the Palmon Bay Hotel and Spa in Montenegro when he suddenly started suffering from a fever - just hours after proposing to his partner Karen, 53. But after flying back to his home in York, North Yorks., his health continued to decline and he became confused, so he was rushed to York Hospital three days later. He was diagnosed with Legionnaires' disease - a serious bacterial infection that you can get from inhaling droplets of water from things like air conditioning or hot tubs - and was placed in an induced coma. Steven then developed multiple organ failure and sepsis - a life-threatening condition where the body attacks itself in response to an infection. He spent four months in hospital, a further fortnight in a neuro rehabilitation centre and needed to be fed by a tube for a further two months because of issues with swallowing. Steven says that although he is "lucky to be alive", he will always remember the holiday, which cost over £1,800, for the "wrong reasons." He said: "This holiday was meant to be a moment we'd remember all of our lives, however, we'll remember it now for all the wrong reasons. "I know I'm lucky to be alive but that's little consolation for what Karen and I have been going through." Steven says that he initially thought he had the flu, but he stared to "realise it was something much more serious" as his symptoms became worse. He also had concerns about the hotel when he arrived and said the spa facilities were clearly poorly maintained, with tiles falling from the jacuzzi. Article continues below Steven Percy with partner Karen before his illness in Montenegro The swimming pool was also closed throughout their stay. Steven said: "Initially I thought it was flu, but as the symptoms became worse, we started to realise it was something much more serious. "I don't remember much about my time in hospital, but it's terrible to imagine what Karen and our families went through, as doctors told them I was critically ill, and it was unclear if I would survive." Steven was admitted to hospital on April 16 last year and came out 99 days later on July 24, but he was transferred to a rehab centre for another two weeks and required a feeding tube. He has been unable to return to work as a funeral director and is undergoing tests to determine whether his lungs suffered lasting damage. Steven has now instructed specialist international serious injury lawyers at Irwin Mitchell to investigate his illness and to see whether it was linked to his holiday. He said: "I went on that holiday as the happiest man alive, but my life now is totally different. My recovery continues to be a difficult journey, but I'm determined not to give up and I want back the job, and the life, I had before. 'My lethargy and weakness are hard to cope with, as is the memory loss, and there's so much concern about whether my lungs are permanently damaged. We can't change what happened, but we deserve some answers over how I came to be so ill.' Jennifer Hodgson, the expert international serious injury lawyer at Irwin Mitchell, said: 'Steven's account of his holiday and the aftermath of being diagnosed with Legionnaires' disease is extremely worrying. We've delt with many cases of people developing the disease, both in the UK and overseas. "Legionnaires' is a very serious condition that shouldn't be underestimated. As in Steven's case, it can lead to other complications. For those who survive, they can face a lifetime of health issues. Understandably, Steven has a number of questions as to how he came to fall so dangerously ill, on what was meant to be a special holiday to propose to his partner, Karen. "We're determined to help him find the answers he is looking for. As part of our work and to assist with our investigations, we would be keen to hear from anyone else who may also have been affected by illness whilst staying at the Palmon Bay Hotel and Spa, Montenegro.' Article continues below Jet2Holidays and the Palmon Bay Hotel and Spa have been contacted for a comment.
Daily Record
06-05-2025
- Health
- Daily Record
Holidaymaker left fighting for his life just hours after proposing to girlfriend
Steven Percy, 67, was staying at the Palmon Bay Hotel and Spa in Montenegro when he suddenly started suffering from a fever. A man spent months fighting for his life after becoming ill at a four-star resort on holiday - just hours after proposing to his girlfriend. Steven Percy, 67, was staying at the Palmon Bay Hotel and Spa in Montenegro when he suddenly started suffering from a fever. He had asked partner Karen, 53, to marry him just shortly before - however, after flying back to his home in York, North Yorkshire, his health continued to decline. As reported by the Mirror, after becoming confused he was rushed to hospital three days later. Steven was diagnosed with Legionnaires' disease - a serious bacterial infection that you can get from inhaling droplets of water from things like air conditioning or hot tubs. He was placed in an induced coma but then developed multiple organ failure and sepsis - a life-threatening condition where the body attacks itself in response to an infection. Steven spent four months in hospital, a further fortnight in a neuro rehabilitation centre and needed to be fed by a tube for a further two months because of issues with swallowing. He now says that, although he is "lucky to be alive", he will always remember the holiday, which cost over £1,800, for the "wrong reasons." He said: "This holiday was meant to be a moment we'd remember all of our lives, however, we'll remember it now for all the wrong reasons. I know I'm lucky to be alive but that's little consolation for what Karen and I have been going through." Steven says that he initially thought he had the flu, but he stared to "realise it was something much more serious" as his symptoms became worse. He also had concerns about the hotel when he arrived and said the spa facilities were clearly poorly maintained, with tiles falling from the jacuzzi. The swimming pool was also closed throughout their stay. Steven said: "Initially I thought it was flu, but as the symptoms became worse, we started to realise it was something much more serious. I don't remember much about my time in hospital, but it's terrible to imagine what Karen and our families went through, as doctors told them I was critically ill, and it was unclear if I would survive." Steven was admitted to hospital on April 16 last year and came out 99 days later on July 24, but he was transferred to a rehab centre for another two weeks and required a feeding tube. He has been unable to return to work as a funeral director and is undergoing tests to determine whether his lungs suffered lasting damage. Steven has now instructed specialist international serious injury lawyers at Irwin Mitchell to investigate his illness and to see whether it was linked to his holiday, which he booked with tour operator Jet2holidays. He said: "I went on that holiday as the happiest man alive, but my life now is totally different. My recovery continues to be a difficult journey, but I'm determined not to give up and I want back the job, and the life, I had before. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. If you're curious, you can read our Privacy Notice. 'My lethargy and weakness are hard to cope with, as is the memory loss, and there's so much concern about whether my lungs are permanently damaged. We can't change what happened, but we deserve some answers over how I came to be so ill.' Jennifer Hodgson, the expert international serious injury lawyer at Irwin Mitchell, said: 'Steven's account of his holiday and the aftermath of being diagnosed with Legionnaires' disease is extremely worrying. 'We've dealt with many cases of people developing the disease, both in the UK and overseas. Legionnaires' is a very serious condition that shouldn't be underestimated. "As in Steven's case, it can lead to other complications. For those who survive, they can face a lifetime of health issues. 'Understandably, Steven has a number of questions as to how he came to fall so dangerously ill, on what was meant to be a special holiday to propose to his partner, Karen. We're determined to help him find the answers he is looking for. 'As part of our work and to assist with our investigations, we would be keen to hear from anyone else who may also have been affected by illness whilst staying at the Palmon Bay Hotel and Spa, Montenegro.' Jet2Holidays and the Palmon Bay Hotel and Spa have been contacted by the Mirror for a comment.
