Course outline:
This course, which examines the main tax and tax planning principles for UK-resident interest in possession and discretionary trusts, seeks to demystify what is seen as a complicated fiscal code in a straightforward and understandable manner.
The speaker uses numerous worked examples to elaborate his explanations.
CPD Hours: 3
Course details:
Content
- Overview of interest in possession and discretionary trusts
- CGT charges on the creation of trusts
- Disposals by trustees to beneficiaries
- Disposals by trustees to third parties
- Business asset disposal relief and trusts
- The post-FA 2006 impact of the IHT rules
- Some initial thoughts on a 10-year anniversary and exit charges
- Case study showing calculation of entry charge for discretionary trust
- Case studies showing calculations of exit and 10-year anniversary charges
- Income tax charges on trustees and beneficiaries
- Tax pool issues
- CGT and IHT planning
- Pilot trusts
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