Inheritance Tax

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Revenue & Customs Brief 49/09 covers IHT position for firms

Parkinson v Fawdon, Chancery Division

How are pension funds taxed on death? DAVID SEATON explains the rules that apply

The owner-manager of a business has recently died, but he had an overdrawn loan account with the company. What are the tax implications if the loan is waived?

Brander (personal representative of the Fourth Earl of Balfour) v HMRC (TC69)

Davies and anor (TC106)

PENNY BATES has a practical look at how to use life assurance in tax planning

Income has been accumulated for the beneficiary of a statutory trust who is a minor. Is there any way of recovering or obtaining the benefit of the tax paid by the trust on its income?

A ten-yearly tax charge on a discretionary trust is approaching, but problems are encountered in obtaining details of any transfers made before the settlement.

A lady wishes to pass her business to her daughter who is currently employed by her. If the business is transferred in stages, will the pre-owned assets charge apply and will business property relief be lost if part of the business is left in her will?

Hansard, 23 Jun 2009, vol 494, no 97, col 827W

A property has been held in trust for ten years to provide an income for a widow and her children. The property should now be sold, but there is some concern at how any ten-year tax charge will be paid

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