Trusts and Estates

CGT private residence exemption Once again, the First Tier Tribunal has been asked to consider whether a dwellinghouse was the taxpayer’s principal private residence. And, once again, the taxpayer failed to convince the Tribunal that brief..

Corporate distributions – capital or income It is important for trustees to decide whether their receipts should be treated as being of an income or capital nature. In the case of the traditional life interest trust, the question decides..

Interest in possession trusts Up until March 2006, it was a fundamental principle of inheritance tax, that the beneficiary of settled property, who was entitled to an interest in possession, was to be treated as beneficially entitled to the settled..

CGT entrepreneurs’ and other reliefs In general, the capital gains tax (CGT) system seems to treat trustees more harshly than it treats individuals. Most obviously, all the trustees’ chargeable gains (less an annual exemption which is..

CGT – gains and losses in 2010-11 Capital gains tax has been in force for 45 years. Practitioners who have been involved with the tax throughout that period may have a strong sense of ‘what goes round comes round’. When the tax..

Review of tax reliefs The office of Tax Simplification, part of the Treasury, has been reviewing tax reliefs. They have published on their website a list of over one thousand tax reliefs they have identified www.hmtreasury...