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Heritable highlights HMO differences
Heritable Bank has highlighted inconsistencies in the implementation of houses in multiple occupation (HMO) regulations.Following the introduction in July of licence requirements for HMOs, the report revealed half of UK landlords do not understand the requirements and one-in-eight (12 per cent) have never heard of them. The study also revealed HMO fees ranged from £60 per year in Herefordshire to £1,100 per year in Newcastle, with four councils still to agree their fees.
The Way forward
The WAY Group has launched an inheritance tax (IHT) planning product designed for high earners who want to put a substantial part of their earnings beyond the reach of the IHT net. WAY Group chairman Paul Wilcox said: “Our plan offers investors a way of making instantly exempt ‘gifts’ – that is, money – out of income into trusts in such a way that the person making the gift retains access to the money. It immediately reduces the inheritance taxable estate by making tax-exempt gifts into trust.”
