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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
Liferent trusts—ScotlandLiferent trustsA liferent trust (or trust liferent) is a trust which, when settled, confers a use and income benefit, or both,...
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Produced in partnership with Peter Murrin of Turcan Connell 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
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
CGT—giftsA gift of an asset is a disposal for capital gains tax (CGT) purposes. It can, therefore, trigger a CGT charge on the gain deemed to have...
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Produced in partnership with Laura Poots (Barrister) of Pump Court Tax Chambers 19th May
Practice notes
Beddoe applicationsWhen trustees are engaged in trust litigation, issues often arise as to how their litigation costs are to be funded. A Beddoe...
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Produced in partnership with Kate Davenport QC of Outer Temple Chambers and Adele Isaacs of Bankside Chambers 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
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
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
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
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
Statutory Wills—Court of Protection applicationsWhat is a statutory Will?Where a person is incapable of making a valid Will for themselves, the Court...
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19th May
Precedents
This Deed is made on [date]Parties1[insert name] of [insert address] and [insert name] of [insert address] (the Retiring Trustees) and2[insert name]...
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19th May

Most recent UK taxes for Private Client content

Q&As
Does a charitable trust have to be registered with the Charity Commission for an estate to benefit from inheritance tax (IHT) exemption on a gift to...
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1st Aug
Q&As
Can a deed of variation create a trust that appoints a protector?For information on deeds of variation, see Practice Note: Variation of Will or...
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1st Aug
Q&As
The deceased had a money purchase pension policy which had been an income drawdown policy since 2005. What details of the policy, if any, should be...
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1st Aug
Q&As
Do damages, received after the date of death in respect of a litigation action to which the deceased was a party, form part of the estate within the...
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1st Aug
Q&As
Who pays inheritance tax on joint property passing by survivorship?This question may have particular significance where a valuable asset (such as a...
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1st Aug
Q&As
If a property is settled on a bare trust for a beneficiary, is that beneficiary subject to the 3% higher rate of SDLT when they purchase a property...
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1st Aug
Q&As
How would trustees claim principal private residence (PPR) relief on the disposal of settled property?The availability of principal private residence...
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1st Aug
Q&As
Would the residence nil rate band be available where a residential property interest is left on trust for the deceased’s unmarried partner for life...
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1st Aug
Q&As
When varying a specific gift in a Will, is it possible to substitute the gift that has been left for something different?A deed of variation executed...
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1st Aug
Q&As
What is the Business Property Relief position with regard to running a business on land owned personally by the sole shareholder?Business Property...
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Produced in partnership with Ward Hadaway 1st Aug
Q&As
What is the inheritance tax position where a testator makes a Will leaving an interest in possession to his spouse or civil partner but the spouse or...
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1st Aug

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