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Where Taxpayers and Advisers Meet

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by jimmytwoburgers
Tue Oct 15, 2019 9:15 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT418 Form - transitional serial interest?
Replies: 6
Views: 8460

Re: IHT418 Form - transitional serial interest?

Thanks for the advice so far! I have given up trying so i have instructed an Accountant to have a look. Unfortunately he believes a chargable lifetime transfer tax could be due - 20%! He is looking into it further.

Do you think this could apply?

Thanks
by jimmytwoburgers
Tue Oct 08, 2019 11:26 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT418 Form - transitional serial interest?
Replies: 6
Views: 8460

Re: IHT418 Form - transitional serial interest?

Thanks for the response.. It was setup in 2018. Two properties were added to it. The Land registry records of the two properties state the owner as "xxxxx family trust". The values of the properties are 170k and 90k. Even if you add these together and put the value of my mums accounts / possessions ...
by jimmytwoburgers
Tue Oct 08, 2019 9:25 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT418 Form - transitional serial interest?
Replies: 6
Views: 8460

IHT418 Form - transitional serial interest?

Morning Everyone, I am in the process of completing an IHT418 form for my late mother. She had put her property into a trust as well as my fathers property (married but lived apart). On the event of her death the trust states her share of the trust assets will go to my father (but still remain in th...

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