The issue of sham is most likely to be raised by the settlor's creditors or former spouse if the settlor is involved in matrimonial proceedings, who...
A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or persons (the trustees) to hold...
When trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe application is the best...
Trust litigation has been classified as being of three types:•a dispute as to the trusts on which trustees hold the subject matter of the settlement•a...
Where a beneficiary either:•is a minor (ie under the age of 18) and unmarried or•has attained majority or has married under that date but is required...
Duration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules against remoteness of vesting and against the...
This partial deed of revocation is made on [date] by [donor] of [address].1I granted a Lasting Power of Attorney for [Financial Decisions/Health and...
ARCHIVED: This Practice Note has been archived and is not maintained.The incidence of inheritance tax (IHT) depends on the domicile of an individual....
11pm (GMT) on 31 December 2020 marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU....
The concepts of domicile and residence are used to establish the extent of an individual’s liability to UK taxation. Specifically, domicile determines...
The main point to appreciate is that the nil rate band (NRB) and the spousal exemption are two completely separate provisions of the inheritance tax...
The HMRC inheritance tax manual: IHTM43042 domicile: domicile of first spouse or civil partner to die states:‘Abdul domiciled abroad. His only asset...
The provisions for making a domicile election are set out in sections 267ZA and 267ZB of the Inheritance Tax Act 1984 (IHTA 1984). They do not contain...
An individual who is not otherwise domiciled in the UK will become deemed domicile for inheritance tax (IHT), income tax and capital gains tax (CGT)...
Individuals who are UK resident and domiciled are liable to pay UK income tax on their worldwide income and capital gains tax (CGT) on their worldwide...
The following facts have been assumed:•the UK citizen in question had a domicile of origin in one of the home nations of the UK•the reference to the...
Once an individual has reached the age of 16, they become capable of acquiring their own domicile of choice. At that point, the individual can:•retain...
Broadly, UK diplomats serving overseas are subject to the rules regarding residence and domicile for UK tax purposes, as are set out in: Residence of...
The definition of domicile is taken from its ordinary meaning and case law, rather than being set out in statute. Domicile is a concept separate from...
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