Tax implications of marriage/civil partnership

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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 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
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
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 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 Jovana Nedeljkov of Bankside Chambers 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
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
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
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 9th Nov
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 9th Nov
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 9th Nov

Most recent Tax implications of marriage/civil partnership content

Practice notes
This Practice Note sets out the tax implications of marriage and civil partnership and the rules that apply in relation to income tax, capital gains...
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Produced in partnership with David Salter, deputy High Court judge and Recorder 9th Nov
Practice notes
This Practice Note sets out the tax implications to be considered on relationship breakdown, ie separation, divorce or dissolution, including income...
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Produced in partnership with David Salter, deputy High Court judge and Recorder 9th Nov
Q&As
The transfer of an undivided share of a freehold or leasehold estate is a stamp duty land tax (SDLT) transaction. The interest transferred is a...
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Produced in partnership with Sean Randall of Blick Rothenberg 29th Sep
Q&As
The main point to appreciate is that the nil rate band (NRB) and the spousal exemption are two completely separate provisions of the inheritance tax...
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28th Sep
Q&As
In answering this Q&A, we have limited our response to cover the capital gains tax aspects of THIS Q&A (and disregarding, for example, the stamp duty...
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28th Sep
Q&As
Practice Note: Introductory guide to residence and domicile for UK tax purposes provides a summary of the UK income tax, capital gains tax and...
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Produced in partnership with Graham Stott of gunnercooke LLP 28th Sep
Practice notes
Section 18 of the Inheritance Tax Act 1984 (IHTA 1984) contains an unlimited exemption from inheritance tax (IHT) for transfers of value between...
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26th Sep
Practice notes
It is natural that spouses may want to make gifts to each other since it is fairly typical for couples to share their property. The term ‘spouses’ is...
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25th Sep
Practice notes
Interaction of matrimonial and other lawsMarriage can affect the rights of the parties in one or more of the following ways:Matrimonial contract and...
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25th Sep

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