Tag Archives: IHT

Trust for the kids: What could possibly go wrong?

A parent with sufficient means may sometimes wish to transfer an income producing asset. For example, mother may wish to transfer investment property in London into a discretionary trust for her daughter (e.g. to help cover university costs or supplement income when buying her own home and/or starting a family). However, there are various tax… Read More »

Everything counts – or does it?

A look at some exceptions to the inheritance tax ‘gifts with reservation’ anti-avoidance rules. The inheritance tax (IHT) ‘gifts with reservation’ (GWR) provisions are anti-avoidance rules. They are basically designed to prevent ‘cake and eat it’ situations (i.e. giving away an asset in the hope of surviving at least seven years in order for the… Read More »

The dark art of property valuation!

The valuation of assets for tax purposes is a tricky business. It has been called a ‘dark art’; a specialist area for experts, not to be dabbled in by other professional advisers. Get help! Even HM Revenue and Customs (HMRC) officers don’t normally engage in tax valuations of assets; they enlist the help of specialists… Read More »