Search eBook

Sample Chapter

2 - Inheritance Tax Mitigation: The Basics

2.1 - Overview of the Chapter - and the Subject

2.1.1 - A brief perspective

2.1.2 - The main charges and definitions

2.1.3 - Death

2.1.4 - Dispositions which are not transfers of value

2.1.5 - Exempt transfers

2.1.6 - Reliefs

2.1.7 - Settlements

2.1.8 - 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 of shares to employee trusts

2.2.10 - Gifts for national purposes

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 - Business Property Relief

2.5.3 - Agricultural property relief

2.5.4 - A comparison

2.6 - Chattels

2.6.1 - Overview

2.6.2 - Planned lifetime giving (without retention)

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

2.7 - Investments

2.7.1 - Scope of the expression

2.7.2 - Alternative strategies

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 and Capital Gains Tax

2.9.3 - Territorial scope

2.10 - The Family Unit

2.10.1 - What is it?

2.10.2 - Transfers between members of the older generation: Inheritance Tax

2.10.3 - Transfers between spouses/civil partners: the Capital Gains Tax position

2.10.4 - Providing for children: Income Tax

2.10.5 - Providing for children: Capital Gains Tax

2.10.6 - Providing for children: Inheritance 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 - Will Planning and Post-Death Rearrangements

2.13.1 - Wills

2.13.2 - Post-death rearrangements

2.14 - The Impact of Other Taxes

2.14.1 - The possibility of conflicting IHT and CGT considerations

2.14.2 - Capital Gains Tax

2.14.3 - Stamp Duty Land Tax

2.14.4 - Value Added Tax

2.15 - Checklist

Contacting Matthew Hutton

You should feel free to contact the office by telephone, letter, fax or email.

Given Matthew's lecturing (and other) activities, you will understand that he can be away from the office for up to three days a week. However, in his absence, his PA Cheryl Gould may be available to respond to your enquiries and will be happy to help you in so far as she can. And Matthew regularly reviews incoming emails (except when away on holiday) and replies as appropriate.

An answer phone service operates when the office is unattended and either Matthew Hutton or Cheryl Gould will endeavour to get back to you as soon as possible.

Telephone:	01508 528388
Fax:	01508 528096
Email:	enquiries@hutton-estate-planning.co.uk

Address:

Matthew Hutton
Broom Farm
Chedgrave
Norwich
NR14 6BQ

USERNAME:	PASSWORD:
Forgotten your password? please click here.