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Practice notes
The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...
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Produced in partnership with Paul Davies of Clarke Willmott 12th Jan
Practice notes
On the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without capacity, in them...
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9th Nov
Practice notes
Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan
Practice notes
This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...
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Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan
Practice notes
This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
Practice notes
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...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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9th Nov
Precedents
This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...
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9th Nov
Practice notes
When you advise an individual on cross-border issues or offshore tax planning, it is important to establish the 'situs' (ie location) of the assets...
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9th Nov
Precedents
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...
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9th Nov
Practice notes
Liferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both, in the trust property...
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Produced in partnership with Peter Murrin of Turcan Connell 12th Jan
Practice notes
An offshore trust is any non-UK resident trust. The liability of trustees of an offshore trust to UK inheritance tax (IHT) is not dependent on the...
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Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 12th Jan
Practice notes
Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...
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Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Most recent Pensions, insurance and tax efficient investments content

Practice notes
FORTHCOMING DEVELOPMENT: The Office of Tax Simplification (OTS) has released a report outlining recommendations to make considerable aspects of the...
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Produced in partnership with Louise Howard of Universities Superannuation Scheme (Ltd) 9th Apr
Practice notes
There are different categories of overseas pension schemes, with various layers of requirements. These include:•Overseas Pension Schemes...
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Produced in partnership with Stephenson Harwood and Fraser Sparks of PwC 9th Apr
Practice notes
FORTHCOMING DEVELOPMENT: The Office of Tax Simplification (OTS) has released a report outlining recommendations to make considerable aspects of the...
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Produced in partnership with Kevin Gude of Gowling WLG 9th Apr
Practice notes
Types of death benefits payableThere are two types of scheme benefits payable on a member’s death:•pension death benefits, and•lump sum death...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
Factors which led to the creation of the Lifetime ISASuccessive UK governments have long proclaimed the importance of encouraging long-term savings...
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Produced in partnership with Wyn Derbyshire of gunnercooke LLP 9th Apr
Practice notes
Where a member of a registered pension scheme dies while in drawdown (whether in the form of income withdrawal or a short-term annuity), there may be...
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9th Apr
Practice notes
Why use a QROPS?In practice, many Qualifying Recognised Overseas Pension Schemes (QROPSs) are personal pension schemes or retirement annuities that...
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Produced in partnership with Sean McNulty of Blake Morgan 9th Apr
Practice notes
THIS PRACTICE NOTE APPLIES ONLY TO REGISTERED FINAL SALARY OCCUPATIONAL PENSION SCHEMESMost pension schemes provide for benefits upon the death of the...
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Produced in partnership with Louise Howard of Universities Superannuation Scheme (Ltd) 9th Apr
Practice notes
The EIS is designed to encourage investment in smaller, higher-risk trading companies by offering a range of tax reliefs to individual investors...
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9th Apr
Practice notes
Various tax incentives are available to individuals investing in unlisted shares and securities such as shares admitted to trading on AIM. AIM is one...
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9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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9th Apr
Practice notes
This Practice Note looks at the benefits which are payable where a member of an occupational or personal pension scheme retires. It explores the...
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Produced in partnership with John Hayward, Pensions Author, and Wyn Derbyshire of Gunnercooke LLP 9th Apr
Practice notes
Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...
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Produced in partnership with John Hayward, Pensions author 9th Apr
Practice notes
National Savings & Investments (NS&I) is an Executive Agency of the Chancellor of the Exchequer. According to its website, NS&I is one of the largest...
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Produced in partnership with Tolley Guidance 9th Apr
Practice notes
Government policyFor many years as part of government policy the establishment in the UK of private pensions in addition to state pensions has been...
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Produced in partnership with John Hayward, Pensions Author, and Wyn Derbyshire of Gunnercooke LLP 9th Apr
Practice notes
Accrual rateThe rate at which pension benefit increases as pensionable service is completed in a final salary scheme, eg 1/60 for each year of...
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Produced in partnership with John Hayward, Pensions author 9th Apr
Practice notes
In the UK the overwhelming majority of pension schemes in the private sector, ie both occupational and personal pension schemes, are established under...
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Produced in partnership with John Hayward, Pensions Author, and Wyn Derbyshire of Gunnercooke LLP 9th Apr
Practice notes
Membership of an occupational or personal pension scheme affords the opportunity to utilise the tax reliefs available during working life to save for...
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Produced in partnership with John Hayward, Pensions Author, and Wyn Derbyshire of Gunnercooke LLP 9th Apr
Practice notes
Individual savings accounts (ISAs) are tax-free funds in which UK residents can hold a range of different investments. Originally, these were cash or...
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Produced in partnership with Tolley Guidance 9th Apr
Practice notes
Public sector pensions are occupational schemes for employees of central or local government, a nationalised industry or other statutory bodies. They...
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9th Apr

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