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Personal Finance Society
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News items | 01 Apr 2012
Taxation and Trusts You should be aware of the following: HMRC decides smartphones can be treated as mobile phones  Until now it has been unclear whether the new generation of smartphones, such as i-Phones and Android phones, are to be treated as mobile phones, personal digital...
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 ...
Technical articles | 01 Jan 2012
One of the main reasons for using trusts is to provide for individuals who cannot look after their affairs themselves. These fall into two categories, the first being children and the second disabled individuals. We have previously dealt with the subject of trusts for children. This month we ...
News items | 01 Dec 2011
Taxation and Trusts You should be aware of the following:
Technical articles | 01 Dec 2011
Prior to the introduction of the transferable nil rate band in October 2007, the standard inheritance tax (IHT) planning advice for a husband and wife with sizeable assets was to encourage them to both make arrangements, via their Wills, to use their IHT nil rate band (NRB) on the first dea...
Technical articles | 01 Oct 2011
Wills are the topic of choice every November because of Will Aid. This is a partnership between the legal profession and nine well-known UK charities. Every year in November local participating solicitors waive their fee for writing a basic Will and instead invite the clients to make a dona...
Syllabuses | 01 Oct 2011
CII syllabus for AF1 Personal tax and trust planning 2011-12
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 Jun 2011
1. Introduction With the tax rates on trusts at a very high level, due to their non-income producing qualities single premium bonds can look attractive as trustee investments as a means of tax deferral with interim access by use of the 5% withdrawal facility. Whilst the tax position on e...

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