- Home/Publications/Trusts and Estates
CGT Entrepreneurs’ Relief for trustees
It may be a bit early for the January sales, but the Capital Gains Tax (CGT) price can be slashed by 50% and the rate can be cut from 20% to 10%, if the gain qualifies for Entrepreneurs’ Relief. This relief can be available to trustees. The..
Online Published Date:
02 December 2016
Appeared in issue:
Vol 30 No 09 - 01 December 2016
Trustee ownership of a beneficiary’s home
Trusts were originally devised as a means of holding land and protecting it from the hazards of medieval landownership, and may still serve a similar purpose today. Indeed, land is still seen as an attractive, or at least suitable, investment for..
Online Published Date:
02 December 2016
Appeared in issue:
Vol 30 No 09 - 01 December 2016
IHT – Gifts losing value
With the gift-giving season fast approaching, thoughts may turn to the Inheritance Tax (IHT) benefits of seasonal generosity. Naturally, the greatest advantages are secured if the donor survives the making of the gift by at least seven years. If the..
Online Published Date:
02 December 2016
Appeared in issue:
Vol 30 No 09 - 01 December 2016
Getting the legacy to the legatee
Readers will be familiar with the onerous duties and responsibilities imposed upon personal representatives. Having obtained possession or control of the assets owned by the deceased, the first priority is, of course, to ensure that the executors..
Online Published Date:
02 December 2016
Appeared in issue:
Vol 30 No 09 - 01 December 2016
IHT – The Residence Nil-Rate Band and trusts
The Revenue has issued its guidance on the Residence Nil-Rate Band (RNRB) at https://www.gov.uk/guidance/inheritance-tax-residence-nil-rate-band and a number of worked examples..
Online Published Date:
02 December 2016
Appeared in issue:
Vol 30 No 09 - 01 December 2016
IHT exemptions for gifts out of income
Inevitably, the season provokes thoughts of gifting and receiving gifts. The tax consequences, especially the possible Inheritance Tax (IHT) consequences, of the donor failing to survive for seven years, may be thought more appropriate for the post..
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016
Provision of accounting information to beneficiaries
Trustees, especially Trustees of Discretionary Trusts, are often relieved by the trust instrument from the obligation to provide beneficiaries with the reasons for the decisions they make. They must, however, provide beneficiaries with accounts...
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016
Sales of assets to beneficiaries by personal representatives
Except in the very simplest cases, where the deceased has left all his property to one person who is the sole executor and where the estate is very liquid with plenty of cash to pay tax, debts, legacies and administrative expenses, it is likely that..
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016
Briefing
Trusts for disabled beneficiaries
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016
Practical pointer
Transactions in UK Land – Part 9A Income Tax Act 2002
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016
Topic of the month
The last Autumn Statement
Online Published Date:
22 December 2016
Appeared in issue:
Vol 30 No 10 - 22 December 2016