The following Private Client practice note provides comprehensive and up to date legal information covering:
Section 18 of the Inheritance Tax Act 1984 (IHTA 1984) contains an unlimited exemption from inheritance tax (IHT) for transfers of value between spouses and civil partners, except where a UK-domiciled person makes a transfer of value to a spouse or civil partner who is not domiciled or deemed domiciled in the UK. In such cases, the exemption is limited by IHTA 1984, s 18(2).
This Practice Note discusses the limited spouse exemption as it applies to transfers of value before and after 6 April 2013, when the exemption was increased, its interaction with capital tax treaties, and some of the problems that having only a limited exemption can create. The lifetime and death domicile election for non-UK domiciled spouses and the issues that should be considered before making the election are also discussed.
For general guidance on the concepts of domicile and deemed domicile, see Practice Notes: Domicile, Deemed domicile for tax before 6 April 2017 [Archived] and Deemed domicile for tax from 6 April 2017.
Until 6 April 2013, the spouse exemption was limited to £55,000, which was the amount of the nil rate band (NRB) applicable as at 14 March 1983. Since then, it has become more common for spouses or civil partners to have different domiciles. Where both are domiciled outside of the UK, the spouse exemption
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What is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including:•the company’s articles of association, and•any resolutions and agreements affecting a company’s constitutionThe CA 2006 definition of 'constitution' is not exhaustive and also
Community order requirementsCommunity order requirements are set out in the Criminal Justice Act 2003 (CJA 2003), as amended by the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO 2012) and the Offender Rehabilitation Act 2014 (ORA 2014). Criminal Justice Act 2003, s 152(2)
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
Background to the Single RulebookHistorically, the European Commission (Commission) favours using Directives (rather than Regulations) to set out its legislation in respect of the financial services sector. However, Directives, allowing Member States greater flexibility in how they implement
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