What is a trust for a bereaved minor?The special category of ‘Trusts for bereaved minors’ (TBM) was introduced by Finance Act 2006 to provide IHT concessions for trusts...
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax on the following occasions:•on the death of...
When trust property ceases to be relevant property, it becomes subject to a charge to inheritance tax. This charge is known as either:•the exit charge•the proportionate...
What is a bare trust?The term 'bare trust' applies to an arrangement where the legal ownership of property is in a different name from that of the person beneficially...
Trustees of a relevant property trust are charged to inheritance tax on each tenth anniversary after the trust was created. This charge is known as any of the...
22 March 2006 was the day of the 2006 Budget which, without any warning or consultation, made sweeping changes to the IHT treatment of trusts. The date represents a...
IntroductionIt has long been recognised that special concessions are appropriate where property is held in trust for the benefit of a person who is unable to manage his...
Trustees of a relevant property trust are charged to inheritance tax on each tenth anniversary after the trust was created. This charge is known as any of the...
What is an Age 18–25 trust?The special category of Age 18–25 trusts was introduced by FA 2006 to offer some compensation for the loss of old style accumulation and...
IntroductionThe taxation of trusts is based on the personal tax regime. Trusts are subject to the same taxes as individuals: income tax, capital gains tax and inheritance...
What is a trust for a bereaved minor?The special category of ‘Trusts for bereaved minors’ (TBM) was introduced by Finance Act 2006 to provide IHT concessions for trusts...
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax on the following occasions:•on the death of...
When trust property ceases to be relevant property, it becomes subject to a charge to inheritance tax. This charge is known as either:•the exit charge•the proportionate...
What is a bare trust?The term 'bare trust' applies to an arrangement where the legal ownership of property is in a different name from that of the person beneficially...
Trustees of a relevant property trust are charged to inheritance tax on each tenth anniversary after the trust was created. This charge is known as any of the...
22 March 2006 was the day of the 2006 Budget which, without any warning or consultation, made sweeping changes to the IHT treatment of trusts. The date represents a...
IntroductionIt has long been recognised that special concessions are appropriate where property is held in trust for the benefit of a person who is unable to manage his...
Trustees of a relevant property trust are charged to inheritance tax on each tenth anniversary after the trust was created. This charge is known as any of the...
What is an Age 18–25 trust?The special category of Age 18–25 trusts was introduced by FA 2006 to offer some compensation for the loss of old style accumulation and...
IntroductionThe taxation of trusts is based on the personal tax regime. Trusts are subject to the same taxes as individuals: income tax, capital gains tax and inheritance...