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1. The Scope of the Book: Estate Planning Introduced
1.5.12 The three disclosure regimes
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
2.2.11 Gifts of shares to employee trusts
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
2.8 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
2.10.3 Transfers between spouses/civil partners: the Capital Gains Tax position
2.10.4 Providing for children: income2.10.4 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 Possibility of conflicting IHT & CGT considerations
2.14.2 Capital Gains Tax
2.14.3 Stamp Duty Land Tax
2.14.4 Value Added Tax
2.15 Checklist
3. Making Gifts: Outright or Protected?
3.4.2 Bare trusts
4. Trusts: Tax-Efficient Management
4.9.3 Power to accumulate or a discretion over income
4.11.5 The Hastings-Bass Principle
6. The Family Business
6.5.2 The scope of employment income for Income Tax and National Insurance purposes
7. Farms and Woodlands
7.3.2 The APR/BPR inter-relationship
9. Investments
9.5.1 Enterprise Investment Scheme
9.9.2 Furnished holiday accommodation
9.11.1 Business Property Relief
11. Pensions
11.3.2 Tax relief
11.5.5 Death benefits - and options 'on retirement'
12. Charitable Giving
12.1.2 New procedure for HMRC recognition for tax purposes
12.1.3 Charities: The ‘Fit and Proper Persons’ Test Revised
12.2 Reliefs and xemptions on Setting up a Charity
14. Heritage Property
14.1.1 A venerable regime
15. Leaving the UK
15.2.7 Residence of trustees
16. Non-UK Domiciliaries Living in the UK
16.7.3 Corporate structures and shadow directors: how far do you (or HMRC) need to go?
20. Compliance
20.2.5 Individuals with complex tax affairs
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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
2.2.11 - Gifts of shares to employee trusts
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
2.8 - 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
2.10.3 - Transfers between spouses/civil partners: the Capital Gains Tax position
2.10.4 - Providing for children: income2.10.4 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 - Possibility of conflicting IHT & CGT considerations
2.14.2 - Capital Gains Tax
2.14.3 - Stamp Duty Land Tax
2.14.4 - Value Added Tax
2.15 - Checklist
2 - Inheritance Tax Mitigation: The Basics
2 - Inheritance Tax Mitigation: The Basics
2 - Inheritance Tax Mitigation: The Basics
