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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 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 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
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
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
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 12th Jan
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 12th Jan
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 12th Jan

Most recent UK taxes for Private Client content

Practice notes
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...
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15th Jan
Practice notes
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...
Read More >
15th Jan
Practice notes
Conversion into sterlingIt is a basic rule that, in order to calculate the UK tax, all income and gains must be expressed in sterling. Where income is...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
Capital losses arising to trustees are calculated in the same way as they are for individuals (for further guidance on capital losses for individuals,...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
The lifetime charge to inheritance tax (IHT) applies when a person makes a 'transfer of value' or 'disposition' as a result of which the value of his...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
Stamp duty land tax (SDLT) is charged on chargeable land transactions (the acquisition of a chargeable interest). For further guidance on how SDLT...
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15th Jan
Practice notes
This Practice Note briefly summarises the main UK taxes which may apply to non-UK resident individuals, including income tax, capital gains tax (CGT),...
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15th Jan
Practice notes
This Practice Note deals with the main principles of income tax that apply to the beneficiary of a discretionary trust.An individual will be charged...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
The pre-owned asset tax (POAT) is an inheritance tax (IHT) anti-avoidance measure, introduced by Schedule 15 to the Finance Act 2004 (FA 2004), and...
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Produced in partnership with Stephen Parnham 15th Jan
Practice notes
This Practice Note is designed to be read alongside:For an introduction to the relevant property regime for trusts, see Practice Notes:...
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Produced in partnership with Alexander Erskine and Charlotte Matthews of Taylor Wessing LLP 15th Jan
Practice notes
Overview of the UK taxation treatment of furnished holiday lettings (FHLs) in the UK and the European Economic Area (EEA)This note covers the UK tax...
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Produced in partnership with Keith Bruce-Smith, Judith Robertson and Katie Walsh of Sinclair Gibson LLP 15th Jan
Practice notes
This Practice Note considers the meaning of 'bare trust' and the inheritance tax (IHT) treatment of such a trust. For information on the income tax...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax (IHT) on the following...
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15th Jan
Practice notes
Coronavirus (COVID-19): Due to potential difficulties in having paperwork signed and posted during the coronavirus (COVID-19) pandemic, certain rules...
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15th Jan
Practice notes
This Practice Note explains how trustees of bare trusts are treated for income tax and capital gains tax (CGT) purposes. Although a bare trust is, in...
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
Practice notes
Capital gains tax (CGT) rules have historically provided generous relief for business owners who dispose of their business. Previously relief was...
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15th Jan
Practice notes
ARCHIVED: This Practice Note gives an overview of the non-resident capital gains tax (NRCGT) charge that applied to certain non-UK resident persons...
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Produced in partnership with Alison Cartin of Bryan Cave Leighton Paisner 15th Jan
Practice notes
This Practice Note sets out the general principles of income tax that apply to discretionary trusts, and any trusts where income may be accumulated....
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Produced in partnership with Paul Davies of Clarke Willmott 15th Jan
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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15th Jan
Practice notes
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...
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15th Jan

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