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Inheritance Tax

Handing over papers

Wills and trusts part 2

Wills and trusts, as described in our previous article ‘wills and trusts part 1’, are common, but sometimes poorly understood. The distinctions between them are significant, as they are both important in estate and succession planning but generally serve different purposes. Here we look at each in more detail. Topic:Succession planning
Completing Forms

Wills and trusts part 1

The terms "will" and "trust" are common, but sometimes poorly understood. The distinctions between them are significant, as they are both important in estate and succession planning but generally serve different purposes. In a well thought out financial plan they are complementary to each other. Here we look at what they are and how they’re created. Topic:Succession planning
Child/Money

Main residence Nil Rate Band – don’t turn your back on IHT planning

An article providing a brief summary of the new Nil Rate Band available for an individuals main residence and the impact it will have on IHT planning. Topic:NIL Rate Band
Coloured buildings

Consultation – IHT on UK property

The UK Treasury issued a consultation paper outlining changes to the inheritance tax (IHT) treatment of UK property held within offshore structures on Friday 19 August 2016. Changes will apply from 6 April 2017. Topic:Succession planning
Couple

Absolute or discretionary trust and IHT

The following article provides information about inheritance tax planning for UK domiciled individuals where a gift has been made and the individual does not require access to capital or withdrawals. Topic:Lifetime Gifts
group of people

UK IHT and chargeable lifetime transfers

This article aims to explain the inheritance tax reporting requirements that are now in place and what this means for Old Mutual International’s trusts. Topic:Lifetime Gifts
completing forms

Application for an IHT reference number

This article explains when an Inheritance Tax reference number should and should not be obtained before paying Inheritance Tax on an estate. Topic:Succession planning
couple on beach

Nil-rate band discretionary trusts

Since the introduction of the transferable nil-rate band, the use of the nil-rate band discretionary trusts is now appears limited for estate planning. However, it remains an important tool in effective estate planning. Topic:NIL Rate Band
Man on mac

IHT reporting thresholds

New reporting threshold regulations on Inheritance Tax (Delivery of Accounts) (Excepted Transfers and Excepted Terminations) came into force on 6 April 2008, and apply for the 2007/08 tax year onwards. Topic:Lifetime Gifts
Handing over papers

An introduction to forced heirship

The following article provides an overview of the principles of forced heirship rules. Topic:Succession planning

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