This title is written to provide tax advisers an understanding of 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.
As well as background to trusts and trustees powers and duties, the commentary deals with the main types of private trusts and the rules that apply to them- these cause practitioners the biggest headache. There are also important chapters in residence and domicile and foreign trusts, charitable trusts, and purpose and heritage trusts. A number of specialist areas such as protective and vulnerable persons trusts are also dealt with.
The commentary is updated in line with recent important case developments including Routier, and Quentin Skinner.
The impact of Brexit, and Covid-19, including the Stamp Duty holiday, is covered, as is the introduction of new intestacy rules in February 2020, and the impact of the new money laundering regulations on trusts.
Recent changes to the Inheritance Tax Act 1984 (s.48(3) (excluded property) and s. 81 (settlements)) are also covered.
This new edition contains a significant number of new worked examples to illustrate the points made in the commentary.
A digital version of this title is available as part of our online tax resources. Contact our sales team to ask about access - [email protected]
Read an extract of Tax Advisers' Guide to Trusts
Table of Contents
1. A Useful Relationship 2. Main Trust Legislation 3. Trust Formalities 4. Powers & Duties of Trustees 5. Residence & Domicile 6. Main Tax Rules Applicable to Trusts 7. Relevant Property Trusts 8. Bare Trusts & IIPs 9. Trusts for Children & Young Adults 10. Foreign Trusts 11. Charitable Trusts 12. Purpose and Heritage Trusts and Foundations 13. Protective & Vulnerable Person Trusts 14. Asset Protection Trusts 15. Wills, Trusts & Statutory Trusts 16. Employee Trusts 17. Trusts of Land 18. Pension Funds 19. Trust Tax Returns