Cookies on the PFS website

By using and browsing the PFS website, you consent to cookies being used in accordance with our policy. If you do not consent, you are always free to disable cookies if your browser permits, although doing so may interfere with your use of some of our sites or services. Find out more »

Personal Finance Society
Recently added to my basket
Sorry but there was an error adding this to your basket. Please try adding it again

Technical articles | 03 Oct 2013
As platform providers begin to follow life offices in supplying trust documentation for their investors, a question will often arise as to whether it is only a "gift trust" that can be used with collective investments. For many years life offices have played an important part in promoting a...
Technical articles | 01 Jan 2009
On 31 December 2008, HMRC announced that from 1 February 2009 it would be cutting the interest rate basis for discounted gift schemes
Technical articles | 01 May 2007
HM Revenue & Customs (HMRC) says that its approach to valuing the gift involved in a discounted gift scheme (DGS) is to look at the open market value of the retained income, which is then deducted from the total investment to arrive at the gift.
Technical articles | 01 Sep 2007
In May, HMRC set the interest rate for valuing the retained stream of "income" at 6% from 1 June, an increase from the previous 5.25%. Then in July, HMRC announced that from 1 September the assumed interest rate would increase to 6.75%, in the light of rising yields on short-dated gilts. ...
Technical articles | 01 Jul 2007
HMRC has issued draft proposals for raising the reporting limits of chargeable lifetime transfers and exempting trusts from delivering accounts for chargeable events on which no tax arises. Discounted gifts schemes arranged after 5 April 2007 with gross investments of up to £210,000 would n...
Technical articles | 01 Oct 2006
Should advisers warn clients with pre-Budget interest-in-possession trusts about the beneficiary change window (to 5 April 2008)? Changes to beneficiaries under flexible trusts are rare: a speaker mentioned that one life office had checked its portfolio of discounted gift plans (DGPs) going...
Technical articles | 01 Oct 2006
Absolute trust DGPs were one of the first knee-jerk reactions to the chancellor's announcement. Seven months on they are not looking such a clever idea. The reasons why absolute trusts had largely been abandoned are still there, and particularly so with DGPs. For example, what happens if an...
Technical articles | 01 Oct 2010
Last month we looked at the structure, operation, advantages and disadvantages of Discounted Gift Trusts. This month we turn our attention to Loan Trusts. Also, at the end of this article, we look at the scope for lump sum IHT schemes to be subject to the Disclosure of Tax Avoidance Schemes...
Technical articles | 01 Sep 2006
The well-publicised inheritance tax (IHT) and capital gains tax (CGT) changes to trust taxation in schedule 20 of the Finance Act 2006 have a substantial impact on the products used by our profession. This is a brief note of some of the areas to be considered.
« Previous
Next »

Only show:

Search by date: