Probate

View Private Client by content type:

Practice notes

Precedents

Q&As

News

Latest Private Client News

Retained EU law—a guide for the perplexed

The following Banking & Finance news provides comprehensive and up to date legal information on Retained EU law—a guide for the perplexed

National debt fund worth £500m is held on charitable trusts (Attorney General v Zedra Fiduciary Services)

The following Private Client news provides comprehensive and up to date legal information on National debt fund worth £500m is held on charitable trusts (Attorney General v Zedra Fiduciary Services)

Relevant relationship agreement law—a guide for the perplexed

The following Corporate Crime news provides comprehensive and up to date legal information on Relevant relationship agreement law—a guide for the perplexed

FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)

The following Private Client news provides comprehensive and up to date legal information on FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)

Featured Private Client content

Notaries and notarisation—notarisation

The principles of the notarial act are that it is:•an act of the notary and not of the parties named in the document•a record of a fact, event or...

Creation of trusts—blind trusts

What is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the settlor and beneficiary of the...

Nature and classification of trusts—the three certainties

CertaintyIn order for a settlor to create a private express trust the three certainties must be present, namely:•certainty as to the intention of the...

Lifetime gifts

A lifetime gift is a gratuitous transfer of ownership of any property between living persons and not made in expectation of death. In contrast, gifts...

Practice notes

The meaning of relevant property

The term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance tax (IHT). As described in...

Produced in partnership with Paul Davies of Clarke Willmott 12th Jan

Practice notes

Capacity to litigate

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...

9th Nov

Practice notes

Offshore trusts—offshore income gains (OIGs)

Offshore income gains (OIGs) are gains realised on the disposal of interests in offshore funds which are either:•non-distributor offshore funds, or...

9th Nov

Practice notes

Trust disputes—sham trusts

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...

9th Nov

Practice notes

What is an offshore trust?

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...

Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan

Practice notes

Beddoe applications

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...

Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 12th Jan

Practice notes

Bermuda trusts

This Practice Note outlines Bermuda trust law and focuses upon its unique features and recent reforms, such as Bermuda's regime for private trust...

Produced in partnership with Vanessa Lovell Schrum and Caljonah Smith of Appleby, Bermuda 12th Jan

Practice notes

Cayman Islands STAR trusts—common uses

This Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman Islands, see Practice Note: Private...

Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan

Practice notes

Trust disputes—court jurisdiction and procedure

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...

9th Nov

Practice notes

Termination of trusts—methods of termination

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...

9th Nov

Practice notes

Termination of trusts—beneficiaries

Duty to distribute to the correct beneficiariesOn the termination of the trust, the trustees are under a duty to distribute the trust assets to the...

9th Nov

Precedents

Deed of appointment terminating discretionary trust

This Deed of Appointment is made on [date] by [trustee] of [address] and [trustee] of [address] (the Trustees).Background(A)This Deed is supplemental...

9th Nov

Practice notes

Situs of assets for succession and IHT

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...

9th Nov

Practice notes

Liferent trusts—Scotland

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...

Produced in partnership with Peter Murrin of Turcan Connell 12th Jan

Scottish Law

Practice notes

UK taxation of offshore trusts—inheritance tax

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...

Produced in partnership with Jenny Wilson-Smith and Emma Haley of Boodle Hatfield 12th Jan

Practice notes

Creation of trusts in Scotland

Express creation of trustsA trust is constituted expressly where the owner of property (the truster) transfers property to trustees to hold for...

Produced in partnership with Yvonne Evans, Law Lecturer, Solicitor (non-practising), TEP, University of Dundee 12th Jan

Scottish Law

Most recent Probate content

Practice notes

IHT—payment deadlines on death

Coronavirus (COVID-19): Due to potential difficulties in having paperwork signed and posted during the coronavirus (COVID-19) pandemic, certain rules...

15th Jan

Practice notes

Introductory guide to IHT

FORTHCOMING CHANGE: Following the Inheritance Tax Review Call for evidence and Survey, which ran from 27 April and 8 June 2018, the Office of Tax...

15th Jan

Practice notes

The deceased's tax position

This Practice Note was originally produced in partnership with Tolley.When an individual dies, their estate is liable to income tax on the income that...

15th Jan

Practice notes

Tax treatment of income received by beneficiaries under a Will

STOP PRESS: A new fixed net sum of £270,000 applies with effect from 6 February 2020, in accordance with Schedule 1A to the Administration of Estates...

15th Jan

Practice notes

Capital gains tax issues on death

CGT position on an individual’s deathThe rules dealing with capital gains tax (CGT) on death provide that:•assets that the deceased was competent to...

15th Jan

Practice notes

IHT—nil rate band (NRB) and transferable NRB

Nil rate band (NRB) and transferable nil rate band (TNRB)Each person's estate is exempt from inheritance tax (IHT) up to a certain threshold, called...

Produced in partnership with Lucy Edwards of Penningtons Manches LLP and now maintained by Lexis®PSL 15th Jan

Practice notes

Tax treatment of capital received by beneficiaries under a Will

STOP PRESS: The Office of Tax Simplification (OTS) published its first report on the review of capital gains tax (CGT) on 11 November 2020. The report...

15th Jan

Practice notes

Finalising the deceased's tax affairs with HMRC

The personal representatives (PRs) are responsible for finalising the deceased's tax affairs. They must file outstanding tax returns and claim any...

15th Jan

Practice notes

Taxation of trusts and estates—property income

It is common for trustees or personal representatives (PRs) to run a property business. A property business is one which generates income from land...

Produced in partnership with Paul Davies of Clarke Willmott 15th Jan

Practice notes

IHT—deduction of liabilities

FORTHCOMING CHANGE: As announced at Budget 2018, draft legislation to be included in Finance Bill 2019–20 was published on 11 July 2019 and includes a...

Produced in partnership with Alison Cartin of Bryan Cave Leighton Paisner 15th Jan

Practice notes

Late payment penalties—inheritance tax

While interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on...

15th Jan

Practice notes

IHT exemptions and reliefs on death and lifetime gifts

FORTHCOMING CHANGE: Following the Inheritance Tax Review Call for evidence and Survey, which ran from 27 April and 8 June 2018, the Office of Tax...

Produced in partnership with Katie Doyle of Mishcon de Reya LLP 15th Jan

Practice notes

Estates—IHT returns and tax compliance

Coronavirus (COVID-19): Due to potential difficulties in having paperwork signed during the coronavirus (COVID-19) pandemic, certain rules relating to...

15th Jan

Practice notes

Income tax and capital gains tax during administration

STOP PRESS: With effect from 6 April 2020, all disposals of UK residential property by UK residents which result in a CGT liability must be notified...

15th Jan

In-house

Practice notes

IHT—valuation principles and particular types of property

The need to value the estateWhen an individual dies they are considered to have made a 'transfer of value' equal to the value of their estate...

Produced in partnership with Ailsa Moorhouse of Penningtons Manches Cooper 15th Jan

Practice notes

IHT—residence nil rate band Q&As

This Practice Note aims to guide practitioners to Q&As and worked examples of the principles under which the inheritance tax (IHT) residence nil rate...

15th Jan

Practice notes

Estate Registration Service

HMRC's online Trust Registration Service (TRS) was designed to implement the Money Laundering, Terrorist Financing and Transfer of Funds (Information...

15th Jan

Practice notes

Introduction to cryptoassets and blockchain for Private Client

This Practice Note explains the phenomenon of ‘cryptoassets’, namely assets which are issued using distributed ledger technology, alternatively known...

Produced in partnership with James Brockhurst of Forsters LLP 15th Jan

Practice notes

IHT400 completion tips

Coronavirus (COVID-19): Due to potential difficulties in having paperwork signed and sent during the coronavirus (COVID-19) pandemic, certain rules...

15th Jan

Practice notes

CGT—PPR relief for trusts and estates

FORTHCOMING CHANGE: On 14 July 2020, the Office of Tax Simplification (OTS) published its online survey and a call for evidence to seek views about...

15th Jan

First
1
2
3
4
5
Last

Probate

View Private Client by content type:

Latest Private Client News

Retained EU law—a guide for the perplexed

National debt fund worth £500m is held on charitable trusts (Attorney General v Zedra Fiduciary Services)

Relevant relationship agreement law—a guide for the perplexed

FTT applies Ramsay to defeat loss creation scheme (Padfield v HMRC)

Featured Private Client content

Notaries and notarisation—notarisation

Creation of trusts—blind trusts

Nature and classification of trusts—the three certainties

Lifetime gifts

Most recent Probate content

Popular documents

Forming enforceable contracts—consideration

Drafting the particulars of claim and reply

Qualified one-way costs shifting (QOCS)

Recklessness in criminal cases

Contact Us

Popular Links

Policies

Follow us