FOR FINANCIAL ADVISERS ONLY
FOR FINANCIAL ADVISERS ONLY
Consumer
Share

Inheritance Tax

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
Calculator Piggy

Excess income? Why not ‘top up’ a trust...

The ‘normal expenditure out of income’ exemption is an underutilised IHT exemption particularly for gifts into trust which are traditionally used with lump sums. Topic:Lifetime Gifts
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
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
Child/Money

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 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
campervan couple

Normal expenditure out of income

This article explains the inheritance tax planning benefits of making regular gifts out of income. This article assumes that you are familiar with the basic workings of inheritance tax. 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
child money

IHT – the forgotten tax

IHT's impact isn’t felt until the client dies, when clients may have more pressing issues to deal with. This article provides some reminders of ways to save on the eventual IHT bill. Topic:Succession planning
businessman tablet

14-year rule when making gifts

This article outlines why it is important for an adviser to establish the full gifting history of a settlor who makes gifts into discretionary trusts for inheritance tax purposes. Topic:Lifetime Gifts
Coloured housing

Finance Act: How will property nil rate band work in practice?

Last year the government announced measures designed to tackle the growing number of estates drawn into an inheritance tax liability as a consequence of house price appreciation. Topic:NIL Rate Band
woman in window

Rules of Intestacy

This article explains how your estate will be distributed under the laws of England and Wales. It also touches briefly on how this differs from the laws of Scotland and Northern Ireland. Topic:Succession planning
big ben

UK Intestacy rules

From 1 October 2014, the UK intestacy rules have been amended by the Inheritance and Trustees’ Powers Act 2014.  Topic:Succession planning
Windmills

Business/Agricultural Property Relief

This article explains how Business Property Relief and Agricultural Property Relief operate in relation to Inheritance Tax planning and also highlights some of the recent cases on this topical subject. Topic:Succession planning
pen and cards

Forced heirship and Manx law trusts

The following article explains how Isle of Man trust legislation works and how this may be used to minimise and possibly eradicate the issues related to forced heirship in some jurisdictions. Topic:Succession planning
open book

UK IHT gifts - exemptions and reliefs

This article is designed to give you a basic understanding of the exemptions and reliefs available for UK inheritance tax payable on gifts. Topic:Lifetime Gifts
Open book

Obtaining a domicile ruling before death

UK HMRC rarely provide rulings until they become relevant for tax purposes. However, a guidance note was issued by HMRC (HMRC Brief 34/2010) which details the circumstances in which an individual’s domicile will be considered for IHT. Topic:NIL Rate Band

Financial Adviser Verification

The content of this site is for advisers only. It is not for the use of Hong Kong advisers. You can change the regional content by selecting a region from the drop down box in the top right-hand corner.