Trusts and Estates

IHT is based on the value of property owned by the deceased immediately before his or her death. It is highly likely that to some extent, the personal representatives will need to realise some of the assets comprised in the estate in order to..

With the change to the flat rate of capital gains tax, at 18% rather than up to the 40%, which can be charged on income, it is unlikely that the divide between ‘capital’ and ‘income’ will assume even greater importance. Where..

For a life assurance company, the sale of an annuity to, and a life policy upon the life of, the same person must seem to be almost the least risky package that can be devised. If the person concerned enjoys a long and healthy life many annuity..

It is a general rule that the terms of a settlement, or will trust, cannot be altered except with the agreement of the beneficiaries concerned. The divorce courts do, of course, have jurisdiction to vary ‘marriage settlements’, possibly..

Trustees income is subject to an additional charge, over and above that levied at the basic rate. The legislation, s686 Taxes Act 1988, confirms that a deduction may be made from the amount charged at the additional rate, for trustees expenses. The..

The possibility of one spouse, or civil partner, enjoying an enhanced nil rate band is clearly going to have an effect on the tax planning advice given to clients. To some extent, matters are much simplified. Elaborate arrangements charging..