Estates—inheritance tax

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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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19th May
Precedents
This Deed OF REVOCATION is made on [date] by me [name of donor] of [address of donor].This Deed provides:1Revocation...
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19th May
Practice notes
Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...
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19th May
Q&As
At what stage and to whom can a Deed of Appropriation take place when selling a second property in an estate?We assume you refer to the situation when...
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19th May
Practice notes
Creation of trusts—blind trustsWhat is a blind trust?A blind trust is a trust that is aimed at preventing conflicts of interest arising. Usually, the...
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Produced in partnership with Michael O’Sullivan of 5 Stone Buildings 19th May
Practice notes
The Cy-près doctrineFORTHCOMING CHANGE: On 22 March 2021, the government published its response  to the Law Commission’s report of 14 September 2017,...
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19th May
Practice notes
Relief for income tax lossesReliefs entitle taxpayers to reduce the amount of income tax payable. When calculating liability to income tax, a taxpayer...
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19th May
Practice notes
Assessment for residential accommodationCoronavirus (COVID-19): The content of this Practice Note is temporarily affected by the coronavirus...
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19th May
Q&As
Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 19th May
Practice notes
Capacity to litigateOn the face of it, there would appear to be no specific impediment, if there is no reason to suppose that a person is without...
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19th May
Practice notes
Termination of trusts—methods of terminationDuration of a trustThe duration of an express trust is subject to the restrictions imposed by the rules...
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19th May
Practice notes
Costs and expenses in the Court of ProtectionThere are court fees and disbursements which will be payable by all applicants on making a new...
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19th May
Practice notes
Acceptance in Lieu scheme and other heritage property reliefsSTOP PRESS: HMRC has updated its guidance on calculating the special price in Acceptance...
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19th May
Practice notes
Trustees—self-dealing, unauthorised profits and conflicts of interestThe self-dealing ruleThe self-dealing rule is connected to, but distinct from,...
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19th May
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...
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19th May
Practice notes
Trust disputes—court jurisdiction and procedureTrust litigation has been classified as being of three types:•a dispute as to the trusts on which...
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19th May

Most recent Estates—inheritance tax content

Practice notes
Estates—IHT returns and tax complianceCoronavirus (COVID-19): Initially due to potential difficulties in having paperwork signed during the...
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20th Sep
Q&As
Should a claim for both agricultural property relief (APR) and the conditional exemption be made on the same parcel of land on the owner’s death?As...
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16th Sep
Q&As
Does the gift to a nil rate band discretionary trust in a Will include assets which attract business property relief?Where any part of the value...
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14th Sep
Practice notes
Apportionment of IHT burden on deathThe calculation and apportionment of inheritance tax (IHT) due on death can be complex, especially taking account...
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9th Sep
Q&As
Do details of a Self-Invested Personal Pension (SIPP) have to be included on a Form IHT400? If so, where?See Practice Note: IHT400 completion tips,...
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6th Sep
Practice notes
IHT—deduction of liabilitiesFORTHCOMING CHANGE: As announced at Budget 2018, draft legislation to be included in Finance Bill 2019–20 was published on...
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6th Sep
Practice notes
Calculating the IHT charge on deathThis Practice Note outlines how to calculate the amount of inheritance tax (IHT) that arises on an individual’s...
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19th Aug
Practice notes
IHT—valuation principles and particular types of propertyThe need to value the estateWhen an individual dies they are considered to have made a...
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Produced in partnership with Ailsa Moorhouse of Penningtons Manches Cooper 19th Aug
Q&As
If (post-transaction) HMRC agrees a valuation for shares, and those shares are then sold on at a higher value, can HMRC go back on the agreed...
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16th Aug
Practice notes
IHT—reduced (36%) rate for estates leaving 10% or more to charityOn death, a person is treated as having made a transfer of value equal to the value...
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Produced in partnership with Katya Vagner of PwC 16th Aug
Practice notes
IHT—residence nil rate bandThis Practice Note introduces the residence nil rate band (RNRB), which is also known as the additional threshold,...
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16th Aug
Practice notes
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For...
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16th Aug
Practice notes
IHT—nil rate band (NRB) and transferable NRBNil rate band (NRB) and transferable nil rate band (TNRB)Each person's estate is exempt from inheritance...
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Produced in partnership with Lucy Edwards of Penningtons Manches LLP and now maintained by Lexis®PSL 16th Aug
Practice notes
IHT—the charge on deathThe charge on deathThe Inheritance Tax Act 1984 (IHTA 1984) sets out how a charge to inheritance tax (IHT) may arise when an...
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Produced in partnership with Pria Mehta of Penningtons Manches Cooper 16th Aug
Practice notes
IHT—payment deadlines on deathCoronavirus (COVID-19): Due to potential difficulties in having paperwork signed and posted during the coronavirus...
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16th Aug
Practice notes
Coronavirus (COVID-19)—ProbateThis Practice Note considers the impact of the coronavirus (COVID-19) pandemic on probate practice and provides answers...
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16th Aug
Practice notes
IHT400 completion tipsCoronavirus (COVID-19): Due to potential difficulties in having paperwork signed and sent during the coronavirus (COVID-19)...
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16th Aug

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