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Where Taxpayers and Advisers Meet

Search found 36 matches

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by langtonbrow
Tue Dec 03, 2019 2:25 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gifts from Surplus Income
Replies: 3
Views: 1115

Re: Gifts from Surplus Income

There are no rules around what the pattern should look like Interesting. Pattern suggests "repeated or regular way in which something happens or is done" So theoretically repeated or regular equals more than once, but there are no rules on this. I also ask because a regular build up of surplus inco...
by langtonbrow
Sun Sep 15, 2019 4:00 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Trust accounts
Replies: 0
Views: 13361

Trust accounts

The cost of completing accounts for a simple discretionary trust has been creeping upwards, with most recently a 30% increment on the previous year. It may be that the current provider is taking our custom for granted. There are several constituent investments which are, for the greater part, refere...
by langtonbrow
Tue Nov 27, 2018 2:18 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Capital Gains in Discounted Gift Trust
Replies: 3
Views: 531

Re: Capital Gains in Discounted Gift Trust

Sorry if I wasn't clear, this isn't my specialist area. Yes there is a bond type product, albeit with fund allocation choices. Even if fund allocations are adjusted on a regular basis by "sales" and "purchases" (effectively reallocation) then the capital isn't actually realised, but is continually c...
by langtonbrow
Sun Nov 25, 2018 11:10 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Capital Gains in Discounted Gift Trust
Replies: 3
Views: 531

Capital Gains in Discounted Gift Trust

Are capital gains relevant when buying and selling funds within a discounted gift trust?
Is the trust taxation separate and distinct from the beneficiary that is receiving the income stream?
thanks fro any thoughts.
by langtonbrow
Tue Nov 28, 2017 6:52 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: Definition of pension payment dates, impact on annual limit
Replies: 0
Views: 1451

Definition of pension payment dates, impact on annual limit

Hello there, Quite a simple question although I expect the answer could be less clear. Does anyone know whether HMRC refer to pension payment dates as the date the money left the taxable salary (ie payday) or the day that the funds were allocated into the pension. There can be days/weeks between the...
by langtonbrow
Wed Jun 07, 2017 10:31 pm
Forum: Property Taxation
Topic: Rental Income & HMRC Form 17 - Beneficial Interest
Replies: 10
Views: 2121

Rental Income & HMRC Form 17 - Beneficial Interest

Hello,

Can I claim beneficial interest split from the date HMRC received form 17 or the earlier date referenced on the Declaration of Trust which indicates unequal shares?

with regards
L.
by langtonbrow
Sun Feb 26, 2017 11:15 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: New IHT and trusts
Replies: 5
Views: 1355

Re: New IHT and trusts

Thanks for responding again Maths it seems unlikely any part of father's nil rate band is available for transfer to mother on her death With reference to the above it seems that £325K (IHT limit) + £100K (Mothers NRB) + Fathers Discretionary trust component (50% of property from 2003 death) - but no...
by langtonbrow
Sun Feb 26, 2017 9:26 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: New IHT and trusts
Replies: 5
Views: 1355

Re: New IHT and trusts

With this change coming up soon I am wondering if the impact on existing trusts has become clarified over time? As my father died over 14 years ago with a discretionary trust in place (with half home ownership included) and my mother is still alive and well is there any cause for concern and ability...
by langtonbrow
Sat Oct 29, 2016 11:59 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: New IHT and trusts
Replies: 5
Views: 1355

Re: New IHT and trusts

Dear Maths,

Yes I am referring to that. I have heard that where discretionary trusts are included then the rules are different and the RNRB will not be available, which seems to contradict your suggestion.

with regards
by langtonbrow
Mon Oct 24, 2016 10:26 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: New IHT and trusts
Replies: 5
Views: 1355

New IHT and trusts

Dear all, Please consider these circumstances, - Father died in 2003 and left half of house (and other assets) in discretionary will trust. - Mother lives in house. - Son bought into house so owned 50% trust, 25% mother, 25% son. Son also lives in house. In future will the new IHT family home uplift...

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