Trusts & Inheritance Tax
Inheritance tax (IHT) should not be overlooked when financial planning – its impact isn’t felt until the client dies, and often clients may have more pressing issues to deal with in the here and now. This article provides some reminders of ways to save on the eventual IHT bill.
This article explains when an Inheritance Tax reference number should and should not be obtained before paying Inheritance Tax (IHT) on an estate.
Inside Trusts & Inheritance Tax
Inheritance Tax Reporting
- Inheritance, gift and wealth taxes in Europe
The aim of this article is to provide a brief overview of what inheritance, gift and wealth tax are and which jurisdictions in Europe they apply to. Please be aware there may be regional differences within the jurisdiction on how the tax is levied, if at all, and the exemptions that are available.
Domicile Information
- Understanding UK domicile
This article explains the concept of UK domicile and the number of different ways UK domicile can be acquired.
Inheritance Tax Planning
- How an absolute or discretionary trust may help with inheritance tax planning
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.
Discretionary Trusts
- Nil-rate band discretionary trusts – still an effective tool in estate planning
Since the introduction of the transferable nil-rate band (NRB) on 9 October 2007 it appears as though the use of the NRB discretionary trusts is now limited when considering estate planning. However, this article demonstrates why it remains an important tool in effective estate planning.
Trust Information
- 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.