Demystifies the subject of tax and explains the tax rules and the way in which trusts can be used in practice as a flexible and effective means of wealth accumulation and protection.
This book concentrates on the UK tax rules applicable to trusts, resident in the UK, or abroad, and the resultant tax liabilities of the trustees, settlors and beneficiaries, and opportunities for reducing those liabilities where possible.
Since the last edition was published in early 2016 (reflecting F (No. 2) A 2015), there has been significant legislative change reflected in several Finance Acts, in relation to the following areas:
Capital gains tax
Various indirect tax changes that may affect trustees, eg increased SDLT rates etc
Numerous changes made to the rules relating to pension administration.
The new edition also covers some significant cases which have emerged since the last edition including:
The Rangers Football Club Plc v Advocate General for Scotland  UKSC 45, re EBTs and payments of earnings, particularly relevant to trustees of employee trusts.
Barclays Wealth Trustees (Jersey) Ltd & Anor v HMRC  EWCA Civ 1512, re excluded property trust status and the treatment of inter-trust transfers