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A Modern Approach to Lifetime Tax Planning for Private Clients (with Precedents) (and CD-ROM)

Provides practitioners with help and guidance on everyday planning and drafting issues.

Print + Online
In Stock
ISBN/ISSN: 9781784731045

Product description

Why should you buy A Modern Approach to Lifetime Tax Planning for Private Clients


This title deals with the legal aspects of tax planning for private clients. It is a companion volume to the popular A Modern Approach to Wills, Administration and Estate Planning (with Precedents).

This work begins by looking at the essential legal framework of giving and tax law through a combination of detailed and authoritative commentary, worked examples and precedents. It then examines specific topics including: trusts and settlements, the family, and looks at particular assets such as the family home, CGT main residence relief, chattels, businesses and farms, investments, and insurance based products. It goes on to examine tax planning using statutory reliefs and exemptions including joint ownership of land/sharing arrangements, gifts for family maintenance, normal expenditure out of income and charitable giving.

This new edition includes:

* Introduction of the Residential Nil Rate band by the Finance (No 2) Act 2015
* Effect of the Taxation of Pensions Act 2015
* The impact of the Inheritance and Trustees Powers Act 2014
* Changes to IHT charges on relevant property trusts
* Full text of the STEP Standard Provisions and the STEP Investment Policy


The line between acceptable tax planning (aka tax avoidance) and tax evasion has become increasingly blurred in the last 12 months. At one time the distinction was clear: avoidance was legal (eg taking advantage of an exemption or relief provided for in the legislation, even exploiting a loophole) whilst evasion was an illegal activity (eg making a false statement in a return). Read the full preface...


Featured Authors

Table of contents

Preface to the Second Edition
Table of Cases
Table of Statutes
Table of Statutory Instruments
Table of Abbreviations

Section I
Essential Law on Giving
- Capacity
- The Power of Attorneys and Deputies to Make Gifts
- Undue Influence
- Formalities: Perfecting the Gift
- Creating a Settlement
- Perpetuities and Accumulations
- Modifying trusts by the exercise of dispositive powers
- Providing Information to Beneficiaries
- Letters of Wishes
- Presumptions of Resulting Trust and Advancement

Section I
Essential Tax Law
- IHT: General Principles
- IHT: Reservation of Benefit and the POAT Rules
- IHT: Taxation of Settlements
- CGT: General Principles
- CGT: Settled Property
- Other Taxes
- Anti-avoidance

Section III
Trusts and Settlements
- When to Make a Settled Gift: Drafting Considerations
- Setting Up a Settlement
- Administering a Settlement
- The Ending of a Settlement
- Pilot Trusts
- Trusts for the Disabled
- Bare Trusts
- The Family
- Children and Remoter Issue
- Cohabitants
- Divorce and Separation
- Old Age

Section V
Particular Assets
- The Family Home
- The CGT Dimension: Main Residence Relief
- Chattels
- Businesses and Farms
- Tax Efficient Investments
- Extending the vesting period
- Planning Using Statutory Exemptions and Reliefs
- Gifts for Family Maintenance
- Normal Expenditure Out of Income
- Charitable Giving

Section VII
- Taking Instructions; Identifying Objectives; Finding out Who Owns What


Read the full contents