Thursday, 29 October 2015

‘Will you still need me, will you still keep me…?’ Offshore trusts and non-doms

We now have further details of the proposed changes in April 2017 to the UK’s remittance basis of taxation for non-doms, courtesy of the Treasury’s September 2015 consultation paper. 

The changes to how non-UK (i.e. offshore) trusts will be treated is particularly dramatic.

Thursday, 15 October 2015

Will your client’s choice of executor mean more tax?

How do your clients choose the executor(s) of their Will? 

Being married to the will-maker is often the only qualification needed to secure an appointment!  Otherwise it might be the person’s suitability to the demands of the role, or their willingness to act.

Tax efficiency is often overlooked.  However, a will-maker’s choice of executor (and trustee of any trust incorporated within the Will) can sometimes make a big difference for UK taxes, so it’s good to understand how the rules of the game work.  

Thursday, 1 October 2015

IHT Same Day Additions – where are we now?

Does using multiple trusts save Inheritance Tax (IHT) still, or has IHT planning with multiple trusts been effectively abolished?  When the second Finance Act of 2015 comes into force later on this autumn, we will finally have the answer.