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Where Taxpayers and Advisers Meet

Search found 27 matches

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by kebata
Fri May 24, 2019 5:49 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Offshore assets transfered to a UK Trust via an aunt
Replies: 1
Views: 543

Offshore assets transfered to a UK Trust via an aunt

I am an non dom resident in UK with a holiday flat in Hong Kong which I am proposing to sell and declare the Capital Gain to HMRC. The residual value of the sale I intend to pass to my grandchildren by setting up two UK trusts whereby I gift in Hong Kong a share to my daughter and son ( both of them...
by kebata
Wed Apr 24, 2019 10:52 am
Forum: Capital Gains Tax, CGT
Topic: Transfer of property to children and loss in value
Replies: 3
Views: 577

Transfer of property to children and loss in value

Hello I am considering transferring my principle residence to my children on which I am likely to have made a capital loss. I assume the transfer value would be the current valuation, and any gain over that value would be CGT taxable on my children when they come to sell it, as they have other homes...
by kebata
Fri Feb 01, 2019 5:31 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Are there special rules relating to a spouse beneficiary
Replies: 1
Views: 478

Are there special rules relating to a spouse beneficiary

I am a non dom and have an offshore settlor interested discretionary trust. Presently I am taxable on all UK income from the trust however distributed. Once I am deceased are there special rules relating to my spouse being taxed on all the income or could part of the income be distributed to other b...
by kebata
Sat Jan 12, 2019 2:05 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Domicile of dependence
Replies: 1
Views: 302

Domicile of dependence

I have a non UK domicile and my wife has a domicile of dependence ( although born in UK) as we were married in 1972. If I predecease my wife does she immediately lose her non UK domicile of dependence and revert to a UK domicile of origin or would she still be regarded as a dependent of mine. Thank ...
by kebata
Wed Oct 10, 2018 5:46 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Are there any restrictions for a non dom to set up a UK based trust
Replies: 5
Views: 784

Re: Are there any restrictions for a non dom to set up a UK based trust

Thank you very much for your help and advice. My course of action is now definitely clearer to me!
by kebata
Tue Oct 09, 2018 10:51 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Are there any restrictions for a non dom to set up a UK based trust
Replies: 5
Views: 784

Re: Are there any restrictions for a non dom to set up a UK based trust

Thank you for your response and your suggestion that an offshore trust would be more sensible utilising offshore assets. I had not realised I could do this now. Would there be any UK tax implications for me as the settlor or could all gains and income roll up off shore without any immediate UK tax i...
by kebata
Mon Oct 08, 2018 2:23 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Are there any restrictions for a non dom to set up a UK based trust
Replies: 5
Views: 784

Are there any restrictions for a non dom to set up a UK based trust

I am a non dom for IHT purposes for the next 10 years on my overseas assets and have now been resident in the UK for 4 years, but wish to set up a UK based trust with my grandchildren as beneficiaries. The trustees will be UK resident as will the location of the settlement. I realise the trust will ...
by kebata
Fri Aug 10, 2018 2:39 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Main residence
Replies: 11
Views: 1410

Re: Main residence

Thank you - yes I understand...……….the rest of the property has to be left to the child to qualify for the 'new' allowance.
by kebata
Fri Aug 10, 2018 1:18 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Main residence
Replies: 11
Views: 1410

Re: Main residence

Could I just check - if one gives a share of a main residence to a child to reduce IHT as a potential PET and retain a majority share in the name of husband and wife but pay a market rent to the child in respect of their share - on the death of the husband and wife would the new main residence addit...
by kebata
Fri Apr 20, 2018 2:03 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Income distribution from offshore trust
Replies: 5
Views: 938

Re: Income distribution from offshore trust

Thank you very much for your advice.

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