Hi, I just read on another site [i]"PETs and Recession It is normally the value of the PET at the date it is made that determines the amount of any IHT charge. In many cases the current recession has caused property values to reduce. Thus, the value of a gift ... Continue Reading
Hello, In germany if i sold a property which i had held for over 10 years i don't have to pay Capital gains tax. If i am uk resident does it mean i have to pay capital gains in the UK even though there are double taxation agreements? Thank you! Continue Reading
An individual is receiving a significant payment in his final, April, pay packet. Needless to say PAYE assumes this one twelfth of his annual salary and so the tax is painful. Is there a way to get the tax back more quickly than either in his tax return, or ... Continue Reading
Hi as a UK non resident am I still entitled to the £1000 saving allowance? As I'm a UK citizen I am allowed the £12570 personal allowance. Continue Reading
I am calculating the value of my husbands estate upon his passing. My query is regards to gifts. We bought our young daughter christmas and birthday presents out of our joint bank account. This was after bills had been paid so they were from our regular income. ... Continue Reading
Please can anyone advise the tax position of a discretionary trust that was set up in 1998. It was common I understand to create these in those days, prior to IHT being transferrable between spouses. The nil rate band (portion of family home value) was put into ... Continue Reading
On my fathers death in 2003 his nil rate band allowance was transferred into a pre prepared discretionary trust, the remaining value of the house was left in my mother name. I believe this was common prior to IHT being posthumously transferrable between spouses ... Continue Reading
Good morning, It is understood that bond returns are not classed as Income by HMRC, but as capital returns. The fundamental question - is a person who is also gifting out of an excess income stream also permitted to consume the capital returns via regular bond ... Continue Reading
