Latest news with #JamesRobinson
Telegraph
4 hours ago
- Business
- Telegraph
Families rush to take out life assurance ahead of Reeves's inheritance tax raid
Rachel Reeves's inheritance tax changes have sparked a scramble for life assurance as people seek financial security for their families, experts have warned. In her maiden Budget, the Chancellor introduced a £1m cap on business and agricultural property relief from next year, and will move pensions into consideration for inheritance tax from April 2027. Insurance broker, LifeSearch, said sales of whole life cover, also known as life assurance, have increased by 230pc since last autumn, while major providers, Royal London and VitalityLife, also reported surges in enquiries. One expert said the Budget had created 'a real problem' for inheritance tax planning, while another said business owners and farmers were now pursuing life cover for the first time. When she delivered her Budget last October, the Chancellor confirmed new inheritance tax rules for business owners, farmers and unspent pensions. In the event of the owner's death, inheritance tax will now be charged on 50pc of the value of business or agricultural assets above £1m from April 2026. Pensions will also be considered for 40pc inheritance tax 12 months later – leaving some families facing an effective tax rate of over 90pc. Experts said the changes had led to an increase in life assurance policies. These are more expensive than life insurance policies because they pay out regardless of when death occurs, so they are often purchased to cover future inheritance tax bills. James Robinson, of advisers Forvis Mazars, said: 'The Budget has created a real problem for people thinking of their pensions or business as being inheritance tax efficient. 'Almost all of our clients want to talk about the inheritance tax changes in some way. We saw a steady increase in the run-up to the Budget and since then, we've seen a marked increase in these conversations. 'It's more of a shock for business owners. They will need to figure out how they fund this tax charge and whether this could affect original plans for the business. It could create a risk for how the business continues in the right way and in the right hands if a proper plan isn't put in place by the time the changes take effect.' Alan Richardson, of LifeSearch, said the Chancellor's changes had also led to business owners and farmers starting to take out policies. He said: 'For the first half of our financial year, which started in September, we've seen a 230pc increase in whole of life policies for the purpose of inheritance tax. 'Before the Budget was announced, we never got a business or a farm owner phoning us up to talk about inheritance tax liabilities, but we do get that now. 'It's also interesting that the average age of people asking for whole of life has dropped off. Historically, it's been 60 to 63, but we're getting younger people now asking about inheritance tax.' Many insurers sell their life products directly to customers, but then cover their risk with larger global companies, known as reinsurers. One such multinational reinsurer, Gen Re, reported an 18pc increase in its sales of whole of life policies during the first three months of 2025 compared to the same period last year. Kevin Carr, a financial services specialist and former independent financial adviser, said this was due to the Budget. He said: 'Gen Re's data shows a substantial increase in the take up of whole of life insurance in the UK, which is no doubt related to last year's Budget and the pending inheritance tax changes. 'It's not driving the mass market, which is people buying it for their mortgage at £20 a month, but I certainly know lots of advisers that specialise in the market where people want to cover their inheritance tax liability and they've been incredibly busy since the Budget. 'People are looking at the changes, seeing an even larger bill than they'd expected and are taking steps to provide for their loved ones.' Major UK insurers also confirmed they were being approached more often. Royal London revealed a 50pc increase in quotes for protections linked to inheritance tax, while VitalityLife also said it had seen more people looking for and buying life insurance.
Yahoo
4 days ago
- Entertainment
- Yahoo
Organ taster day invites curious to try out the 'king of instruments'
An organ taster day in Clitheroe will give members of the public the chance to try their hand at what the event's organiser calls the "king of instruments". The "Come and Play the Organ" session will be held at Clitheroe Parish Church (St Mary's) on Saturday, June 7, from 10.30am to 12.30pm, as part of a nationwide series of events intended to address the shortage of organists in the UK. Visitors will be able to watch an informal presentation, listen to a miniature recital, and try the organ for themselves during the session. James Robinson, organiser of the event, said: "2025 is 'Play the Organ Year' so there is no better time to give it a go. "We hope that there are some local people around who would like to learn this 'king of instruments.' "You might simply be interested to know how an organ works and the sounds it can make – or maybe you've always fancied playing one but have never had the chance. "It would also be great to see some children there because they are the future of our churches. "But all are welcome – so come along, be nosey, and make some noise." READ MORE: Wheelchair stickers removed 'in error' at Nelson Morrisons Filming for BBC drama The Cage closes Tockholes Road, Tockholes Vascular services at Blackburn hospital could move to Preston No prior experience is needed, though basic piano skills are helpful for those interested in learning and playing long-term. Those attending on the day are also invited to bring their own piano music to see how it transcribes onto the organ. Anyone requiring further details can contact Mr Robinson via email at lone2000@
Belfast Telegraph
4 days ago
- Business
- Belfast Telegraph
Former whiskey distillery with 200 years of history put up for sale
A former whiskey distillery and latterly a shirt factory is up for sale in the Waterside area of Derry. An online listing on the Lisney website says the property, at Distillery Brae and Spencer Road was constructed around the 1820s by James Robinson, taken over by the Meehan family and subsequently the Watt Family. It's understood the Meehan family built a street in the Waterside called Meehan's Row to accommodate the distillery workers. By the early 1830's, the Watt family purchased the business and set out on a planned, systematic expansion of the site. It's reported that despite being successful, the Waterside operation always laboured in the shadow of the Abbey street distillery on the opposite side of the River Foyle. In the 1880's, Abbey Street reportedly had the capacity to produce two million gallons of whiskey a year. Its main product Tyrconnell whiskey was very popular in Britain and America. The property comprises a four-storey split level building straddling Spencer Road, Distillery Brae and Simpsons Brae. It has been refurbished in parts over the last ten years to create a mixed use commercial and residential property. The property is described as a 'prominent and imposing' building located adjacent to the North West Transport Hub. The building of 13,350sqft is said to offer 'extraordinary views' over the River Foyle. At Simpsons Brae, the ground floor comprises of an occupied retail unit. While, the majority of the units are accessed from Distillery Brae and comprise of a large vaulted open plan space currently occupied by a gym on the ground floor. Due to the split level nature of the building, although this floor is classed as first floor, this can also be classed as ground floor level from The first floor at Distillery Brae comprises of two large open plan suites, both currently vacant. The suites have been fitted out as a gym and a hair salon and are both said to be in good condition. The second floor is fitted out as a serviced office scheme, comprising of a number of individual rooms created by stud walling. Five of these suites are currently occupied. A two bedroom apartment is accessed directly from Distillery Brae which is occupied. Access to the 'attic' space, which is currently tenanted, is directly from Spencer Road.
Scottish Sun
24-05-2025
- Entertainment
- Scottish Sun
Braveheart child star looks unrecognisable on film's 30th anniversary as he recalls hilarious McDonald's moment on set
A FORMER child star from Braveheart has revealed how he used to slag off Mel Gibson's dodgy Scots accent on set - so the Hollywood A-lister begged him to help improve his brogue. Andrew Weir from Ayr played William Wallace's best pal Hamish in the Oscar-winning flick and even managed to get family friend James Robinson a crucial part as the young freedom fighter. 5 James Robinson playing a young William Wallace alongside his pal Andrew Weir as Hamish. 5 Child stars Andrew Weir and James Robinson as they are today. 5 Andrew Weir now runs his own company Martingale Cognac in New York but recalls fondly...
Yahoo
17-05-2025
- Business
- Yahoo
Commuters affected by NJ Transit strike struggle: ‘It's a mess'
NEW YORK (PIX11) — 'It's a hassle, it's a mess,' Said James Robinson, who's been commuting into New York City for work by train for more than three decades and is over the NJ transit engineers' strike that has impacted about 350,000 commuters. For James, taking the bus into Manhattan on Friday morning was far from a pleasant experience. More Local News 'This is ridiculous that people have to travel like this, I had to stand on a bus for about 40 mins coming. The bus after a while had to stop picking up people. One of the buses I normally catch didn't even show up,' added Robinson. The union representing the engineers claims the company is refusing to offer them competitive salaries 'Every single NJT employee, every single union employee is paid less than their counterpart at other area passenger railroads,' stated Tom Hass, BELT General Chairman. NJ Governor Phil Murphy argued that NJ transit engineers get paid roughly the same hourly rate as their counterparts. The head of NJ Transit says it's about being financially responsible and stable. 'This is not about giving them a fair wage. It's about how do you do it in a fiscally responsible manner that doesn't bankrupt NJT and puts it on a death spiral,' said Kris Kolluri. As negotiations are scheduled to resume on Sunday, James feels neither NJ Transit nor the workers on strike are thinking about customers like him. 'When does this end? They need to come to a resolution this weekend so everybody can get back to a normal life as far as traveling,' Concluded Robinson. Meanwhile, NJ Governor Phil Murphy stated, 'At this moment, our single highest priority is reaching a fair and affordable deal as soon as humanly possible.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
