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Sample Chapter

2 - Inheritance Tax Mitigation: The Basics

2.1 - Overview of the Chapter - and the Subject

2.1.1 - The main charges and definitions

2.1.2 - Death

2.1.3 - Dispositions which are not transfers of value

2.1.4 - Exempt transfers

2.1.5 - Reliefs

2.1.6 - Settlements

2.1.7 - Anti-avoidance

2.2 - The Basic Lifetime IHT Exemptions

2.2.1 - The principle

2.2.2 - Potentially exempt transfers (PETs)

2.2.3 - The spouse/civil partner exemption

2.2.4 - The annual exemption

2.2.5 - The £250 small gifts exemption

2.2.6 - Normal expenditure out of income

2.2.7 - The marriage/civil partnership exemption

2.2.8 - The charities exemption

2.2.9 - Gifts to political parties

2.2.10 - Gifts for national purposes

2.2.11 - Gifts of shares to employee trusts

2.2.12 - Estate Duty surviving spouse exemption

2.3 - The Use of Trusts

2.3.1 - A convenient recipient of lifetime gifts

2.3.2 - Settlor and spouse/civil partner should be excluded

2.3.3 - The key IHT distinction

2.3.4 - Impact of Finance Act 2006

2.4 - The Family Home(s)

2.4.1 - The problem

2.4.2 - Some solutions

2.5 - The Reliefs for Qualifying Business and Agricultural Property

2.5.1 - Outline description

2.5.2 - A comparison

2.6 - Chattels

2.6.1 - Overview

2.6.2 - Planned lifetime giving (without retention)

2.6.3 - Consider an effective gift of the chattel followed by continued enjoyment by the donor ‘for full consideration’

2.7 - Investments

2.8 - Life Assurance and Pension Arrangements

2.8.1 - Life Assurance

2.8.2 - Pensions

2.9 - Charitable Giving

2.9.1 - Inheritance tax

2.9.2 - Income tax

2.10 - The Family Unit

2.10.1 - What is it?

2.10.2 - Transfers between members of the older generation

2.10.3 - The Capital Gains Tax position

2.10.4 - Providing for children: income tax

2.10.5 - Providing for children: Capital Gains Tax

2.11 - Heritage Property

2.12 - The Foreign Element

2.12.1 - Excluded property: the IHT exemption for non-UK domiciliaries

2.12.2 - IHT mitigation for non-UK domiciliaries

2.12.3 - Non-UK domiciled settlors and excluded property settlements

2.13 - Two Anti-Avoidance Regimes

2.13.1 - Gifts with reservation of benefit

2.13.2 - The pre-owned assets regime

2.14 - Will Planning and Post-Death Rearrangements

2.14.1 - Wills

2.14.2 - Post-death rearrangements

2.15 - The Impact of Other Taxes

2.15.1 - Capital Gains Tax

2.15.2 - Stamp Duty Land Tax

2.15.3 - Value Added Tax

2.16 - Checklist

Why buy this one...?

The professional adviser (or, indeed, taxpayer) faces a bewildering choice of books available, with plenty already on the market. So why has this been written and why should you buy it? See also the reviews and subscribers' comments below.

Because:

In appealing to both beginner and experienced adviser, it sets out the legislative and case law background while pinpointing the problem areas and offering practical solutions;
It offers monthly updating on new developments as they occur;
It is easy to read and to find one's way about; and
It comes at an affordable price.

The aim is to enable both the professional adviser to give clear practical advice and for the lay client to assess and respond to their own position (and to weigh up the benefit of professional advice).

This Book will tell you:

What everyone concerned about the prospective burden of IHT should now be doing on a regular basis in terms of 'basics'.
How to respond proactively to the FA 2006 IHT bombshell for trusts.
What sensible options are available for lifetime planning with the family home.
How the business proprietor should be thinking of passing on the family business.
Tax planning for the farmer, including the vexed question of the farmhouse.
What to do with chattels, investments, insurances and pensions.
How to bring the spouse, civil partner (or partner) and the children into the picture - or not, as the case may be!
The tax implications of leaving and coming to the UK.
Tax efficient Wills and post-death planning.
How to keep on the right side of Her Majesty's Revenue & Customs.

and a good deal more!

Preface
Contents
Tables of Cases, Statutes, Statutory Instruments & Other Material
1. The Scope of the Book: Estate Planning Introduced		13. The Family Unit
2. Inheritance Tax Mitigation: The Basics		14. Heritage Property
3. Existing Trusts: Tax Efficient Management		15. Leaving the UK
4. The Scope for Making New Trusts		16. Non-UK Domiciliaries Living in the UK
5. The Family Home(s)		17. Offshore Trusts and Companies
6. The Family Business		18. Wills
7. Farms and Woodlands		19. Post-death Planning
8. Chattels		20. Compliance
9. Investments		21. Making a Plan - and Keeping it Under Review
10. Life Assurance
11. Pensions		Appendices
12. Charitable Giving		Index

Key Features

21 self-contained Chapters
Tips and traps scattered throughout the text
Statutory references and case citations together with other subsidiary material, making the text easier to read
Copious worked examples
Most Chapters begin with an overview and end with a checklist
Clear headings to all the subchapters and paragraphs
You can view Chapter 2 as a sample chapter online before you buy.