CRC v Executors of Lord Howard of Henderskelfe (deceased), Court of Appeal
A client is proposing to transfer a large residential property to his son. The client will continue to live at the property and pay a rent. This should avoid an inheritance tax charge
Pitfalls to avoid when claiming agricultural property relief
An Australian citizen is UK resident, but domiciled in Australia. She has inherited a “long-term income stream annuity”, which started in 2002 and will last for 15 years
To mitigate income tax liability, a client transferred commercial property into the joint names of himself and his wife. However, only his share is eligible to capital gains tax entrepreneurs’ relief
The inheritance tax implications of pension trusts
Tax planning for loving couples
Who pays what when considering settlor-interested discretionary trusts, and who is repaid what?
A client’s will contained a nil-rate band discretionary trust clause and the residue of the estate was left to the widow of the deceased. The estate is below £325,000 and there is doubt as to the entitlement of income from the main estate asset, a property
Minimising inheritance tax on family assets
HMRC’s trusts and estates section has made changes to its inheritance tax (IHT) compliance checks in an effort to streamline the process and encourage collaborative working with taxpayers.
The Revenue aims to send an initial letter within eight to ten weeks of receipt of an account to explain it has been selected for a check. The case will then be allocated to an investigator, the contact point for all subsequent communication.
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