Inheritance Tax

A husband and wife operate their consultancy through a limited company. They have purchased a small buy-to-let portfolio using directors’ loans

What is the limit when deciding if a provider of land is eligible for business property relief?

Trustees of PL Travers will trust (TC2830)

A client owns some farmland, but this  is subject to an Agricultural Holdings Act tenancy and consequently will attract only 50% agricultural property relief against inheritance tax

How should the works created by an artist be valued in the accounts that are prepared up to the date of his death?

A house was inherited and sold a few months later at a substantial gain. Capital gains tax will be payable, but what acquisition value should be used?

Executor of the estate of Teresa Rosenbaum (deceased) (TC2884)

A UK taxpayer who was receiving 5% withdrawals from offshore life assurance bonds has died. Potential income tax liabilities will depend upon who is entitled to the policy proceeds and whether a trust is in existence

What happens if a liability is accidentally increased? Tax normalisation may be the key

A trust was established before the major changes to the tax regime that were introduced in FA 2006. However, the terms of that trust have recently been changed

When trustees are safe to release assets subject to a capital gains tax holdover election

The beneficiary of a trust has a 50% life interest in business premises from which a company – of which she is a director and 25% shareholder – trades. There is concern regarding the potential inheritance tax liability