Estates—inheritance tax

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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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19th May
Precedents
This Deed OF REVOCATION is made on [date] by me [name of donor] of [address of donor].This Deed provides:1Revocation...
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19th May
Practice notes
Trustees—statutory powers of trusteesSource and availabilitySourcesTrustees have certain powers conferred on them by statute, in particular by the...
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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
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
Assessment for residential accommodationCoronavirus (COVID-19): The content of this Practice Note is temporarily affected by the coronavirus...
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19th May
Q&As
Can a life tenant in a Will bring a life interest to an end by choosing to end it themselves or does it only expire on death?Life tenantsA life...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 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
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
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
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
Trust disputes—court jurisdiction and procedureTrust litigation has been classified as being of three types:•a dispute as to the trusts on which...
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19th May

Most recent Estates—inheritance tax content

Practice notes
Introductory guide to IHTFORTHCOMING CHANGE: Following the Inheritance Tax Review Call for evidence and Survey, which ran from 27 April and 8 June...
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16th Aug
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 16th Aug
Practice notes
IHT—residence nil rate band Q&AsThis Practice Note aims to guide practitioners to Q&As and worked examples of the principles under which the...
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15th Aug
Practice notes
IHT exemptions and reliefs on death and lifetime giftsFORTHCOMING CHANGE: Following the Inheritance Tax Review Call for evidence and Survey, which ran...
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Produced in partnership with Katie Doyle of Mishcon de Reya LLP 15th Aug
Practice notes
Grossing up and partly exempt estatesThe transfer of value on death is one transfer affecting the whole estate. Where there are no contrary provisions...
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15th Aug
Practice notes
IHT—calculation of nil rate band and transferable NRBThis Practice Note sets out the principles under which the basic nil rate band (NRB) and the...
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15th Aug
Q&As
Would the tenant of a farm have an IHT liability on their death? Would it depend on the type of agricultural tenancy they have? Would the answer...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 15th Aug
Q&As
Does having a beneficial interest in another person’s property form part of the estate for inheritance tax purposes?A transfer of value is a...
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15th Aug
Q&As
Can trustees of a discretionary Will trust over the testator’s residuary estate appoint assets out to trust beneficiaries during the administration...
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15th Aug
Q&As
In the case of a married couple, if the wife leaves her share of their property worth £200,000 to her children, can her surviving husband's personal...
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Produced in partnership with George Mitchell of Forsters LLP 15th Aug
Q&As
When is the earliest date for which the TNRB can be claimed?IHT is charged as a percentage (generally 40%) of the value transferred by a chargeable...
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Produced in partnership with Oliver Hilton of Radcliffe Chambers 15th Aug
Q&As
Would the residence nil rate band be available if a contingent gift is left to grandchildren?The legislation providing for the introduction of the...
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15th 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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15th Aug
Q&As
Are there any IHT implications where a testator grants an option to sell land on the death of the survivor of himself and their partner at an agreed...
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15th Aug
Q&As
Can the transferable residence nil rate band be claimed when the first spouse to die did not own an interest in the property which now passes on the...
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15th Aug

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