Estates—inheritance tax

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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
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...
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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
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
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
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
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
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
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...
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Produced in partnership with Mourant Ozannes and Carey Olsen 12th Jan
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
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
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
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
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...
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9th Nov
Practice notes
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...
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9th Nov
Practice notes
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...
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9th Nov

Most recent Estates—inheritance tax content

Q&As
See Practice Note: IHT—business property relief which contains comprehensive guidance on the circumstances and types of property on which business...
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7th May
Practice notes
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...
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5th May
Practice notes
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...
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4th May
Practice notes
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...
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Produced in partnership with Ailsa Moorhouse of Penningtons Manches Cooper 28th Apr
Q&As
As a matter of English law, the beneficiaries of a deceased person’s estate are entitled to alter the disposition of the whole or part of the estate,...
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23rd Apr
Q&As
A trust held solely for charitable purposes is not subject to the relevant property regime, and hence is not liable to ten-year or exit...
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Produced in partnership with James Brockhurst of Forsters LLP 19th Apr
Practice notes
Variations and other post-death rearrangementsAlthough the terms of a testator’s Will or the provisions applicable on intestacy cannot actually be...
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9th Apr
Practice notes
Although the terms of a testator’s Will or the provisions applicable on intestacy cannot actually be altered by the beneficiaries of the estate...
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9th Apr
Practice notes
Sources of fundsMake arrangements for funding inheritance tax (IHT) early so that funds are available as soon as the grant is ready to be...
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9th Apr
Practice notes
The charge on deathThe Inheritance Tax Act 1984 (IHTA 1984) sets out how a charge to inheritance tax (IHT) may arise when an individual dies. When a...
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Produced in partnership with Pria Mehta of Penningtons Manches Cooper 9th Apr
Practice notes
The transfer of value on death is one transfer affecting the whole estate. Where there are no contrary provisions in the deceased’s Will, the general...
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9th Apr
Practice notes
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...
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Produced in partnership with Katie Doyle of Mishcon de Reya LLP 9th Apr
Practice notes
The calculation and apportionment of inheritance tax (IHT) due on death can be complex, especially taking account of trust interests, chargeable...
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9th Apr

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