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CIOT autumn residential conference

18 September 2012
Issue: 4371 / Categories: Comment & Analysis , Events
MIKE TRUMAN reports the highlights of the event held at the University of Warkwick


  • Chris Whitehouse 5 Stone Buildings
  • Peter Rayney Peter Rayney Tax Consulting
  • Stephen Ward Premier Pension Solutions
  • Mark Morton Mercia Group
  • Mike Thexton Thexton Training Services

Life insurance bonds

Talking about the underused inheritance tax relief for normal expenditure out of income Chris Whitehouse explained that in the past HMRC had accepted that the 5% “tax free” income paid from a single premium life insurance bond was still to be treated as income for the purposes of the relief.

They will no longer accept this and Chris said that they are looking for a test case.

Peter Rayney said that a common approach is to take the firm’s accounts for the last three years and make appropriate adjustments. 


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