Estates—income tax and CGT

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Latest Private Client News

Responsible investment and charities—High Court provides clarity (Butler-Sloss v Charity Commission)

The following Pensions news provides comprehensive and up to date legal information on Responsible investment and charities—High Court provides clarity (Butler-Sloss v Charity Commission)

Liberty protection safeguards—a summary of the consultation

The following Family news provides comprehensive and up to date legal information on Liberty protection safeguards—a summary of the consultation

Private Client weekly highlights—19 May 2022

The following Private Client news provides comprehensive and up to date legal information on Private Client weekly highlights—19 May 2022

Upper Tribunal dismisses appeal of delayed HMRC assessment (Commissioners for HM Revenue and Customs v Nicola Martino)

The following Pensions news provides comprehensive and up to date legal information on Upper Tribunal dismisses appeal of delayed HMRC assessment (Commissioners for HM Revenue and Customs v Nicola Martino)

Featured Private Client content

What is an offshore trust?

What is an offshore trust?A trust is formed either by lifetime gift or on death when a person (the settlor) transfers assets to another person or...

Acceptance in Lieu scheme and other heritage property reliefs

Acceptance in Lieu scheme and other heritage property reliefsThe Acceptance in Lieu (AiL) scheme allows those who are liable to UK inheritance tax...

Tax and the personal injury trust

Tax and the personal injury trustInheritance tax and personal injury trustsIt is a common misconception among practitioners that using one type of...

Creation of trusts—express trusts

Creation of trusts—express trustsConstituents of a trustWhen drafting, keep in mind that the essentials of creating a validly constituted trust...

Practice notes

Trust Registration Service (TRS)

Trust Registration Service (TRS)Background to the Trust Registration Service (TRS)HMRC's online Trust Registration Service (TRS) was designed to...

16th Nov

Practice notes

Statutory residence test—split year treatment

Statutory residence test—split year treatmentThe UK’s first formal tax residency test for individuals known as the statutory residence test or SRT...

Produced in partnership with Lisa Spearman of Mercer & Hole 19th Apr

Q&As

In a situation where the Will of a person holding property as a tenant in common with their spouse leaves their interest to children with a right for the spouse to reside in the property, is it correct that the legal estate of the property should be transferred to the spouse and children with a Form B restriction?

In a situation where the Will of a person holding property as a tenant in common with their spouse leaves their interest to children with a right for...

16th Nov

Practice notes

Discretionary trusts—Scotland

Discretionary trusts—ScotlandWhat is a discretionary trust?A discretionary trust or discretionary settlement is an arrangement created when an...

Produced in partnership with Pete Murrin of Turcan Connell 19th Apr

Scottish Law

Practice notes

Applications under the Variation of Trusts Act 1958

Applications under the Variation of Trusts Act 1958The Variation of Trusts Act 1958 (VTA 1958) gives the court the jurisdiction to approve variations...

Produced in partnership with Edward Reed and Charlotte Kynaston of Macfarlanes 16th Nov

Practice notes

Trust disputes—asset tracing

Trust disputes—asset tracingIn some circumstances a beneficiary will want to recover a specific asset. Tracing as a remedy will be the preferred...

16th Nov

Practice notes

Company donations

Company donationsThe key legislation setting out charitable donations relief for companies is enshrined within Part 6 of the Corporation Tax Act 2010...

Produced in partnership with Jacqui Lazare of Clarke Willmott 16th Nov

Practice notes

Deputyship returns and accounts

Deputyship returns and accountsFor all those appointed by the Court of Protection to act as a deputy for property and financial affairs or health and...

Produced in partnership with Patricia Wass, Holly Miéville-Hawkins and Nikki Bedford of Enable Law, part of the Foot Anstey LLP group 16th Nov

Practice notes

Charities and the relief of poverty

Charities and the relief of povertyFORTHCOMING CHANGE: On 22 March 2021, the government published its response to the Law Commission’s report of 14...

16th Nov

Practice notes

Public Guardian and Court of Protection fees and fixed costs

Public Guardian and Court of Protection fees and fixed costsFees for applications to the Office of the Public GuardianThe fees to be paid in respect...

16th Nov

Practice notes

Characterisation of trust distributions for tax purposes

Characterisation of trust distributions for tax purposesThe tax treatment of a distribution from a trust in the hands of the recipient is determined...

16th Nov

Precedents

CGT—letter—election of main residence—principal private residence (PPR) relief—trustee(s) and individual beneficiary

CGT—letter—election of main residence—principal private residence (PPR) relief—trustee(s) and individual beneficiaryHM Revenue and Customs [Insert...

16th Nov

Practice notes

CGT—hold-over relief for trusts and individuals

CGT—hold-over relief for trusts and individualsWhere an asset is acquired or disposed of otherwise than at arm’s length (ie there is a gift or a...

Produced in partnership with Paul Davies of Clarke Willmott 19th Apr

Precedents

Beneficiary receipt on final distribution of trust

Beneficiary receipt on final distribution of trustI, [beneficiary], acknowledge that today I received from [names of trustees] the trustees of [insert...

16th Nov

Precedents

Court of Protection—Position Statement

Court of Protection—Position StatementCase No. [insert][IN THE COURT OF PROTECTION][IN THE MATTER OF THE MENTAL CAPACITY ACT 2005][IN THE MATTER OF...

16th Nov

Precedents