Taxation of trusts—inheritance tax

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Practice notes
Creation of trusts—express trustsConstituents of a trustWhen drafting, keep in mind that the essentials of creating a validly constituted trust...
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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
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...
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Produced in partnership with Mourant Ozannes and Carey Olsen 19th May
Practice notes
Nature and classification of trusts—the three certaintiesCertaintyIn order for a settlor to create a private express trust the three certainties must...
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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
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
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
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
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
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
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
Practice notes
Cayman Islands STAR trusts—common usesThis Practice Note provides guidance on Cayman Islands STAR trusts. For general information about the Cayman...
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Produced in partnership with Mourant Ozannes and Carey Olsen 19th May

Most recent Taxation of trusts—inheritance tax content

Practice notes
Taxation of trusts—restructuring trustsReasons for restructuring a trustRestructuring a trust may be undertaken for a number of purposes, including...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul
Practice notes
Bare trusts—IHTThis Practice Note considers the meaning of 'bare trust' and the inheritance tax (IHT) treatment of such a trust. For information on...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul
Practice notes
The meaning of qualifying interest in possessionWhat is a fixed interest trust/interest in possession for trust law purposes?The interest in property...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul
Practice notes
Trusts—IHT returns and tax complianceCORONAVIRUS (COVID-19): From 30 March 2020, HMRC lowered the late payment interest rate to 2.75%. This was done...
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31st Jul
Practice notes
Finance Act 2006 changes to trust taxation22 March 2006 was the day of the 2006 Budget which, without any warning or consultation, made sweeping...
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31st Jul
Practice notes
Taxation of trusts—settlor interested trustsThe rules relating to settlor interested trusts are anti-avoidance rules, aimed at ensuring that a settlor...
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31st Jul
Practice notes
Taxation of trusts for bereaved minors—IHTWhat is a trust for a bereaved minor?The special category of trusts for bereaved minors (TBM), sometimes...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul
Practice notes
Taxation of trusts—summary of tax treatment of settlor interested trustsThe tables below provide a very brief summary of some of the main provisions...
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31st Jul
Practice notes
Relevant property trusts—the exit charge before 18 November 2015When trust property ceases to be relevant property, it becomes subject to a charge to...
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31st Jul
Practice notes
Pension death benefit trustsFORTHCOMING DEVELOPMENT: The Office of Tax Simplification (OTS) has released a report outlining recommendations to make...
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Produced in partnership with Kevin Gude of Gowling WLG 31st Jul
Practice notes
Accumulation and maintenance trusts—IHTFORTHCOMING CHANGE: The government ran a consultation on the taxation of trusts from 7 November 2018 to 28...
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31st Jul
Practice notes
Introductory guide to the taxation of trustsFORTHCOMING CHANGE: As originally announced at Autumn Budget 2017 and followed up by written statement...
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31st Jul
Practice notes
Relevant property trusts—exit charge pro forma calculationFor detailed guidance on calculating the exit charge both before and after the ten-year...
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31st Jul
Practice notes
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For...
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31st Jul
Practice notes
Taxation of trusts for disabled persons—IHTA ‘disabled trust’ is a trust which benefits from special inheritance tax (IHT) treatment. To benefit from...
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Produced in partnership with Phillipa Bruce-Kerr of Harrison Clark Rickerbys 31st Jul
Practice notes
Taxation of age 18–25 trusts—IHTThe special category of age 18–25 trusts was introduced by Finance Act 2006 (FA 2006) to offer some compensation for...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul
Practice notes
Qualifying interest in possession trusts—IHT treatmentTrust property, which is the subject of a qualifying interest in possession (QIIP), may become...
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31st Jul
Practice notes
Excluded property trusts—key events affecting IHT statusGenerally, property in trust which is situated abroad is excluded property for the purposes of...
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Produced in partnership with Graham Callard of 9 Stone Buildings 31st Jul
Practice notes
Relevant property trusts—the principal (ten-year) chargeThis Practice Note is designed to be read alongside:For an introduction to the relevant...
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Produced in partnership with Alexander Erskine and Charlotte Matthews of Taylor Wessing LLP 31st Jul
Practice notes
The meaning of relevant propertyThe term 'relevant property' defines a category of trust property which is subject to a special regime for inheritance...
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Produced in partnership with Paul Davies of Clarke Willmott 31st Jul

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