Trusts & Tax
Are Trusts Liable for Capital Gains Tax?
Frequently, trusts are established with the intention of mitigating a tax liability. More often than not this concerns inheritance tax (IHT) and planning; tr...
Capital Gains Tax on Losses From Trusts
Capital Gains Tax (CGT) can represent a significant outlay in some circumstances. Essentially, CGT charges arise when assets have increased at value at the p...
Capital Gains Tax Rates and Exemptions?
Capital Gains Tax (CGT) is a frequently overlooked expenditure. While it is a major consideration for investors and businesses, some individuals may never in...
Capital Gains Tax Taper Relief
The implications of Capital Gains Tax (CGT) for asset-holding individuals can be significant. As is explained elsewhere on this site, CGT is a potentially la...
How is a Bare Trust Taxed?
Bare trusts can be a very useful tool in a number of circumstances. The trustee in a bare trust has no power of choice over the disbursement of the assets, i...
How is a Discretionary Trust Taxed?
Discretionary trusts can be highly useful estate planning tools. The effective use of such a trust can ensure that Nil-Rate Band inheritance tax exemptions a...
How is an Interest in Possession Trust Taxed?
Interest in possession trusts can be very useful when a settlor (that is, the individual establishing a trust) wishes to provide a beneficiary with a regular...
Reducing your Tax Bill With an Offshore Trust
It is common to hear about wealthy individuals relocating to so-called ‘tax havens’ in an attempt to mitigate their tax liabilities. For most people, how...
Tax Avoidance Investigated by MPs?
Tax avoidance is suddenly a huge political topic. Months of direct action from groups like UKUncut has led a group of MPs to announce an investigation into t...
What Happens When the Settlor Benefits?
In many cases, trusts are established with the intention of separating the settlor from certain assets. There are a number of potential reasons for this, the...
What is Absolute Entitlement?
There are a number of key phrases in trust law that, while frequently used, are seldom defined. Absolute entitlement is one such phrase. The concept of absol...
Will a Trust Affect my Self Assessment?
For the self-employed, tax self-assessment is an unpleasant fact of life. The annual rush to get your self-assessment in on time is something with which seve...