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

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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15th Aug
Q&As
If a company, which qualifies for Business Property Relief (BPR), has an overdrawn directors account ie the company owed money from the director, is...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 15th Aug
Q&As
Where the main asset of an estate is land that qualifies for IHT agricultural property relief at 100%, do the PRs need to file a corrective account if...
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15th Aug
Q&As
If A leaves their estate on life interest trust for their partner (B) with remainder to A’s children, is inheritance tax chargeable on A’s death?Where...
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15th Aug
Q&As
Does an executor with power reserved to them have a liability to pay inheritance tax on an estate or is this the sole responsibility of the proving...
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Produced in partnership with Chris Bryden of 4 King’s Bench Walk 15th 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 15th Aug
Q&As
Would a French property owned by a UK domiciled individual qualify for the residence nil rate band? What, if any, provision should the individual make...
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15th Aug
Q&As
Can the transferable nil rate band be claimed on the death of a surviving spouse where the first spouse died in 1965?In order to claim the...
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15th Aug
Q&As
Would the residence nil rate band be available where the testator (T) leaves residential property to their children (A and B), with a right of...
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15th Aug
Q&As
Can a deed of variation by the beneficiaries be used to amend trustees' powers in a discretionary trust set up by Will?Where all of the members of the...
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15th Aug
Q&As
Grandparents pay school fees in advance direct to the relevant school. Are there IHT implications (eg PET) for the grandparents, particularly if the...
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15th Aug
Q&As
Would the residence nil rate band (RNRB) be available where a residential property interest is left on trust for the testator's (A) child (B) for...
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15th Aug
Q&As
Can the transferable nil rate band be claimed if the parties were judicially separated at the time of the first death?For an explanation of the nil...
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15th Aug

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