Hutton eBook -

Hutton Updates

1. The Scope of the Book: Estate Planning Introduced

1.5.12 The three disclosure regimes

2. Inheritance Tax Mitigation: The Basics

3. Making Gifts: Outright or Protected?

3.4.2 Bare trusts

4. Trusts: Tax-Efficient Management

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

11. Pensions

12. Charitable Giving

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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Book

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

2.1.4 - 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

2.6.1 - 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

2.13.2 - 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