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Practice notes
Trustees—dutiesNature of dutiesThe difference between a duty and a power is:•the performance of a duty is obligatory•powers are to a greater or lesser...
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19th May
Practice notes
IHT—quick succession reliefQuick succession relief (QSR), which is not to be confused with taper relief, applies to a transfer of value which attracts...
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Produced in partnership with Katya Vagner of PwC 19th May
Practice notes
Capital gains tax issues on deathSTOP PRESS: The Office of Tax Simplification published its first report on the review of capital gains tax (CGT) on...
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19th May
Practice notes
Taxation of age 18–25 trusts—IHTThe special category of age 18–25 trusts was introduced by Finance Act 2006 (FA 2006) to offer some compensation for...
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Produced in partnership with Paul Davies of Clarke Willmott 19th May
Practice notes
Private Client—Luxembourg—Q&A guideTaxation regimeWhat factors determine tax liability in your jurisdiction (eg domicile, residence or...
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Produced in partnership with Eric Fort of Arendt & Medernach 19th May
Practice notes
Creation of trusts—beneficiariesWho may be beneficiariesEvery person who would be capable of owning property if of full age and sound mind may be a...
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19th May
Practice notes
Trustees—removal of trusteesA trustee may be removed against their will in any of the following ways:•under an express power in the trust...
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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
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
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
Cayman Islands STAR trusts—common usesThis Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman...
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Produced in partnership with Mourant Ozannes and Carey Olsen 19th May
Practice notes
Discretionary trusts—ScotlandWhat is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an...
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Produced in partnership with Peter Murrin of Turcan Connell 19th May
Practice notes
Beneficial ownership registers—private clients and trustsCORONAVIRUS (COVID-19): Certain aspects of the PSC regime are affected by temporary measures...
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19th May

Most recent Q&As content

Q&As
Should Court of Protection deputies still be visiting their protected persons during the coronavirus (COVID-19) pandemic?The Vice-President of the...
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6th Jun
Q&As
What are the CGT and SDLT implications of a bare trustee (mother) transferring the entire trust property comprising a number of residential properties...
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6th Jun
Q&As
Is an acquisition of a new main residence subject to the higher 3% rates of SDLT where the purchaser owns rental property overseas and in the UK but...
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6th Jun
Q&As
Does a deputy have the authority to enter into pre-action correspondence on behalf of a patient without being appointed a litigation friend?This Q&A...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 6th Jun
Q&As
When a settlement that is a 'protected settlement' for the purposes of capital gains tax becomes a 'qualifying settlement', how are the stockpiled...
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6th Jun
Q&As
When transferring properties which have waived the exemption to tax which make up a property investment business of a deceased to beneficiaries for no...
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6th Jun
Q&As
If you have a lifetime interest in a property, this will form part of your estate for IHT purposes. Is the same true if you have a right to occupy a...
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6th Jun
Q&As
What is the correct wording to use for an attorney to renounce probate on behalf of a sole executor and will the Probate Registry still require...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 6th Jun
Q&As
Does the higher rate of Stamp Duty Land Tax apply to property purchased by trustees of a qualifying trust for bereaved minors?The higher rates of...
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6th Jun

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