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
Can the remaindermen of a life interest trust vary their entitlement so that it goes into a discretionary trust on the death of the life tenant? If...
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15th Aug
Q&As
Is an individual’s unused basic nil rate band (NRB) transferable to the estate of their surviving spouse where the surviving spouse dies shortly after...
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Produced in partnership with Phillipa Bruce-Kerr of Harrison Clark Rickerbys 15th Aug
Q&As
When an individual receives a gift or series of gifts made from the donor's surplus income, does the recipient have to declare it on their income tax...
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15th Aug
Q&As
Is there any inheritance tax exemption that may apply to the estates of key workers dying from coronavirus (COVID-19)?While there has not yet, as far...
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15th Aug
Q&As
Where an intestate's minor children are to inherit on statutory trusts, is it possible to vary the terms of those trusts (through court application),...
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Produced in partnership with Graham Stott of gunnercooke LLP 15th Aug
Q&As
Can a deed of variation be entered into after the second anniversary of the deceased's death to preserve a transferable nil rate band?The transferable...
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Produced in partnership with Lynne Counsell of 9 Stone Buildings 15th 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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15th Aug
Q&As
What are the inheritance tax rules concerning lifetime and testamentary gifts between UK and non-UK domiciled individuals?The main point to appreciate...
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15th Aug
Q&As
What are the various aspects of providing a gift of property and possible impacts on inheritance tax?Case studyThe deceased, A, transferred property...
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15th Aug
Q&As
How would a UK resident and domiciled individual’s usufruct in a French property be treated on their death for UK inheritance tax (IHT) purposes?HMRC...
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15th Aug
Q&As
Can the beneficiary of a deed of variation of a legacy in a Will or on intestacy disclaim the gift?A person cannot be compelled to accept a gift or a...
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15th Aug
Q&As
Is it best practice to submit an IHT30 clearance certificate when no inheritance tax is payable?If the estate is an excepted estate and Form IHT205...
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15th Aug
Q&As
How can a testator ensure that the residence nil rate band will apply where a property is to be left on trust for the testator’s minor children?This...
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15th Aug

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