HMRC accused of assault on trusts
A leading tax specialist has described recent proposals by HM Revenue & Customs to crack down on inheritance tax avoidance as the latest in a series of assaults which may lead to the ultimate demise of trusts.
IHT
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HMRC trust proposals target IHT avoidance
HM Revenue & Customs has proposed a limit to the amount an individual can transfer into a series of trusts tax free, in its latest attempt to crack down on the use of multiple trusts to avoid inheritance tax (IHT).
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IOMA launches estate planning product
IOMA has broadened its product range with the introduction of an estate planning tool designed to regulate the distribution of client wealth to child beneficiaries.
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could a family investment company cut your clients
Trusts are the standard way to pass down family wealth to future generations. But recent tax changes mean that family investment companies may offer a more tax-efficient option, says Grant Thornton’s Emma Hunt.
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care cost confusion causes
Over a third of people in the UK aged over 65 are failing to plan their inheritance because they feel care costs will leave them with nothing to pass on.
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ten of the most expensive countries for iht
Following on from international accountancy firm UHYs news that Ireland and the UK are the two most expensive countries in the world for IHT, we take a look at some other expensive jurisdictions…
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uk and ireland levy highest rates of iht in
The UK and Ireland levy the highest rates of inheritance tax in the world, with rates many times higher than the global average, according to a recent study.
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only a brave man would bet on
Financial experts reacted positively to David Camerons proposed reform to the inheritance tax (IHT) threshold but doubted the reality of its implementation.
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lombard unveils gifting plan
Lombard International Assurance has unveiled a new asset-gifting plan that it says will permit UK-resident individuals to bequeath assets to their children, while retaining "some control over when they receive them".
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why expats should care that uk
UK residents with assets of more than £325,000 are not the only ones who might be concerned that the UK’s inheritance tax threshold is failing to keep pace with inflation: expats, for example, ought to be studying the matter as well.
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hmrc looks to simplify as it issues iht trust
HM Revenue & Customs has sought to reduce the complexity of the way inheritance tax trust charges are calculated, in a consultation document released late yesterday in London.
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family inheritance disputes jump 19
As the very public inheritance row involving Frances richest woman, L’Oréal heiress Liliane Bettencourt, and her daughter might suggest, the younger generation does not always react with deferential gratitude to the share of the family fortune they are allocated.