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Inheritance Tax Planning
In this section we include our articles relating to inheritance tax planning. These cover all aspects of inheritance tax planning including: Using non UK domicile status to avoid UK Inheritance tax
The special IHT rules for non UK domiciliaries
Advice on using trusts to avoid Inheritance tax
Making full use on the Inheritance tax reliefs such as business property relief, regular gifts out of income and the spouse exemption
Making use of the nil rate band
Transferring assets to reduce the size of your estate
Optimal holding structure for companies etc to reduce inheritance taxInside the members area you'll find lots of specialist inheritance tax planning articles.
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Members can access our new Inheritance Tax Consultancy Section.
This includes detailed
scenario based tax planning Q&A's. New Q&A's are to be added to this daily. |
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Free Inheritance Tax Guide |
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All tax guides are unique to WealthProtectionReport.co.uk and written by a Chartered Accountant and Chartered Tax Adviser.
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Inheritance Tax Articles
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UK tax and offshore discretionary trust
Question: Dear Sirs, what are the tax implication of foreign domiciled individuals of an offshore discretionary Trust if they choose the remittance basis or the arising basis in case a distribution (of income or gains) is made or not? Kind regards . . .
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Inheritance tax and your family company
17/02/2010
Given the current rate of inheritance tax is 40% this can represent a substantial tax charge, particularly if you have valuable assets such as shares in your family company. In this article we look at when and how such shares can and can't qualify for inheritance tax relief . . .
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Using estate tax treaties to avoid the deemed domicile rules
15/02/2010
Irrespective of your actual 'domicile' you can be treated as a deemed UK domiciliary which will result in your worldwide estate being subject to UK inheritance tax. In this article we look at how estate tax treaties can be used to prevent you being classed as a deemed domiciliary and how this can avoid UK inheritance tax. . . .
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When the 7 year inheritance tax survivorship period can be avoided
30/12/2009
It's well known that you can make gifts of any assets within your estate and provided you survive for seven years they will be free of inheritance tax. This applies for transfers to trusts as well as individuals. However, if you or your relatives are old or infirm seven years may be too long. This article looks at the options for reducing inheritance tax without needing to survive for seven years . . .
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Transfers to a QROPS and UK Inheritance Tax
18/11/2009
Following a post in the forum, in this article we've considered the inheritance tax ('IHT') implications of a qualifying recognised overseas pension scheme ('QROPS') for both UK domiciliaries and non UK domiciliaries. . . .
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Emigrating from the UK to avoid Inheritance Tax
07/10/2009
Leaving the UK to avoid inheritance tax needs to be looked at completely separately from leaving the UK to avoid income tax or capital gains tax. Following requests from members we've looked in this article at how you would look to emigrate from the UK to avoid inheritance tax . . .
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Moving abroad to lose UK deemed domicile
13/07/2009
Many non doms living in the UK will be within the scope of UK inheritance tax ('IHT') on the basis that they have the UK as their deemed domicile. This will be the case if they've been resident in the UK for 17 or more of the last 20 tax years. In this article we look at the UK tax implications of moving abroad to lose deemed domicile . . .
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UK tax and gifting cash abroad
10/07/2009
If you're considering gifting overseas cash to family members you should ensure that you carefully consider the UK tax implications. In this article we look at the income tax and inheritance implications for both UK domiciliaries and non UK domiciliaries . . .
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Investing in commercial property tax efficiently
19/06/2009
Investing in commercial property is still popular, even given the current economic climate. In this article we look at the income tax, capital gains tax and inheritance tax implications of investing in commercial property . . .
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AIM shares & IHT relief
27/05/2009
Following a request on our forum we've looked at the position of AIM shares and when they will qualify for 100% inheritance tax relief. This article looks at the rules which govern when you'll qualify for inheritance tax relief including the differences for shares gifted during your lifetime and shares held at the date of death . . .
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How the £55,000 non dom IHT exemption works including examples
06/05/2009
We've had a few questions on this in the forums and therefore it's well worth looking at this in a bit more detail. It's well known that there is a £55,000 limit on transfer between a UK domiciled spouse and a non UK domiciled spouse, but this article looks at some of the less well known impacts of this rule . . .
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A review of the UK-US Inheritance tax/Estate tax treaty
Estate tax treaties are very important in terms of mitigating inheritance tax. Although not as common as income tax treaties where they do apply they can be very effective. This article looks at the provisions and the implications of the UK-US estate tax treaty . . .
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Inheritance tax & joint insurance policies
23/02/2009
It's reported that most holders of life insurance policies don't put their policies in trust. This article looks at the benefits of writing life insurance policies in trust, and considers the inheritance tax position of joint policies . . .
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Inheritance Tax and Excluded Property Trust
Question: If an individual is non dom and non resident and are very keen on returning to UK. If they set up an Excluded Property Trust for all of their offshore assets including Main residence & Investment bonds, would the assets be free of IHT once they are back in the UK as residents. Furthermore can they still have access to the assets within the trust should they need to sell the property held within the trust. On death what are the IHT implications should the beneficeries of wish to encash bonds and cash. . . .
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