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Technical articles | 31 May 2012
In the first article in this series on business succession planning I stated that where a business has more than one owner the most appropriate vehicle, (but not necessarily the only one), to achieve a smooth and tax-efficient business succession is the business trust arrangement.
Technical articles | 01 Apr 2012
Last month we looked at some general principles of how and when it is possible to change the terms of a trust. We mentioned that in the last year we have had a number of decisions on this very subject, in particular the Courts looking at the question "what is for the benefit of the benefici...
Technical articles | 01 Mar 2012
It is well known that for a trust to be effective for all tax purposes it must be irrevocable. This means that once the trust deed is made, the trust terms cannot be changed, except with the approval of the Court. So in what circumstances is the Court likely to agree to vary a trust? It so ...
CII Library | Book | Published 2014
The OECD Model Tax Convention was updated in 2012, to facilitate requests for the exchange of tax information internationally. This emphasises the growing need for transparency and compliance in the administration of taxes, including international wealth investment. This is a topical subject due ...
Technical articles | 01 Jul 2011
In the July 2010 article we considered the tax and legal aspects of bare trusts and you may want to refer to it to refresh your knowledge of the fundamentals.
Technical articles | 01 Apr 2011
A well-known inheritance tax planning route for persons who are placing assets that will or are likely to have substantial future value in trust is to use "Rysaffe planning". This planning takes its name from the Court decision in the Rysaffe case which, in broad terms, found that even if t...
Technical articles | 01 Jan 2011
February and March are key planning months to maximise the use of an individual's allowances, reliefs and exemptions for the current tax year, especially as some will be lost if not used before the tax year end. Technical Connection's John Woolley provides hints on strategy...
Technical articles | 01 Sep 2010
In last month's edition, we looked at the improved scope for inheritance tax planning following confirmation that (i) an increase in the nil rate band to £1 million will not now take place and (ii) the nil rate band will remain at £325,000 until 5 April 2015.
Technical articles | 01 Aug 2010
In this second part of a series revising the fundamentals of trusts we look at the interest in possession trust and its current place in financial planning.
 

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