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Technical articles | 01 Sep 2006
The position following the enactment of Finance Act 2006.  Section 156 and Schedule 20 Finance Act 2006 introduce new inheritance tax rules for trusts which that were first announced in the Budget on 22 March 2006.  The radical proposals stimulated a great deal of concern and deba...
Technical articles | 02 May 2012
Last month, in the article on the variation of trusts, we touched on the subject of inheritance tax planning on behalf of a disabled person. In the case re JDS, Smyth v JDS (2012) (COP10334473) the Court of Protection decided that a gift into trust by an individual (proposed by the deputy a...
Technical articles | 15 May 2018
In this second part of an update on the recent changes related to domicile and trusts we will look at some specific planning strategies that are still relevant to those who are UK resident but not UK domiciled and not UK deemed domiciled. Before we get down to specifics though an update on the c...
Technical articles | 03 Apr 2018
As is well known, in the case of a member of a pension scheme dying aged 75 or over and a lump sum being paid to a personal discretionary/flexible trust (such as a by-pass trust), a 45% SLSDBC income tax charge will arise. On later payment of some or all of this amount to a beneficiary, the benef...
Technical articles | 15 May 2013
Last month we considered the tax and legal fundamentals of trustee investment in the light of the tax changes taking place from 6 April 2013.  We concluded that the changes and the beginning of the new tax year should provide a good opportunity to contact trustee clients with a view to...
Technical articles | 13 Apr 2016
Although the March 2016 Budget did not include any specific  announcements in relation to trusts, the announced  changes to the capital gains tax (CGT) rates, with effect from 6 April 2016, do of course affect trustees as much as any other taxpayer. In addition to the CGT changes,...
Technical articles | 05 Apr 2016
This month we continue the thread of settlor-interested trusts but we explore one area which is frequently overlooked.
Technical articles | 22 Feb 2016
The last time we looked at asset protection trusts was about four years ago. Since then we have had some interesting developments both in the area of care fees and the promotion of certain types of trust.
Technical articles | 08 Dec 2015
Changes to the UK tax rules concerning individuals who are not domiciled in the UK but are either resident in the UK or own property here were announced in the Summer Budget. This was followed by the publication of the consultation paper "Reforms to the Taxation of Non-Domiciles" on 30 Sept...
 

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