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Where Taxpayers and Advisers Meet

Search found 7515 matches

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by maths
Wed Sep 11, 2019 11:46 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Trust moves abroad?
Replies: 6
Views: 167

Re: Trust moves abroad?

Where are the beneficiaries resident and does the trust deed expressly provide for an appointment of non-resident trustees?
by maths
Thu Sep 05, 2019 11:24 pm
Forum: Property Taxation
Topic: Private Residence Relief on second home
Replies: 1
Views: 143

Re: Private Residence Relief on second home

It is not possible to have two residences over the same time period for CGT purposes. Where there are two properties with each qualifying as a residence it I necessary to elect which of the two is to be the main residence; any such election must be made within 2 years of acquiring the second residen...
by maths
Thu Sep 05, 2019 1:10 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Variation of a will and inheritance tax
Replies: 4
Views: 126

Re: Variation of a will and inheritance tax

Generally speaking, it is advantageous for the first spouse to die to leave the estate to the surviving spouse. The surviving spouse then become in principle entitled to two lots of nil rate band (NRB) and two lots of residence nil rate band (RNRB). In a time of increasing NRB and RNRB the doubling ...
by maths
Sat Aug 31, 2019 10:59 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: My previous savings
Replies: 3
Views: 713

Re: My previous savings

Are you UK domiciled or non-UK domiciled?
by maths
Sun Aug 25, 2019 4:46 pm
Forum: Capital Gains Tax, CGT
Topic: Selling Property rented for commercial use
Replies: 1
Views: 660

Re: Selling Property rented for commercial use

As it would seem that the land included a dwelling the 18%/28% rates would I assume apply on sale.
by maths
Sun Aug 25, 2019 4:12 pm
Forum: Capital Gains Tax, CGT
Topic: CGT computation forms when half property was sold and repurchased
Replies: 4
Views: 733

Re: CGT computation forms when half property was sold and repurchased

When you refer to "partner" do you mean married partner; civil partner or co-habitee?
by maths
Sun Aug 25, 2019 1:32 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gift with benifits
Replies: 1
Views: 589

Re: Gift with benifits

No. If this is your only "use" of the property it will not give rise to a so-called reservation of benefit for IHT.
by maths
Tue Aug 20, 2019 7:13 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: With Profits Bond - Top Slicing
Replies: 9
Views: 1708

Re: With Profits Bond - Top Slicing

Thanks for the reference. Not dissimilar confusion in the various answers which typically arises. The issue (ignoring settled policies) typically is to identify who is the life assured and who is the beneficial owner of the policy (often the same person, but by no means not always). Confusion arises...
by maths
Mon Aug 19, 2019 8:15 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: With Profits Bond - Top Slicing
Replies: 9
Views: 1708

Re: With Profits Bond - Top Slicing

The problem when speaking to HMRC, insurance companies etc is that the person to whom you may speak is often not really knowledgeable and my experience is that they often tend to shoot from the hip. I would be interested in looking at the other discussion to which you refer if you could give me a re...
by maths
Mon Aug 19, 2019 5:51 pm
Forum: Savings & Investments, Pensions & Retirement
Topic: With Profits Bond - Top Slicing
Replies: 9
Views: 1708

Re: With Profits Bond - Top Slicing

I'm not sure I agree with Aviva. If your mother is the sole life assured and sole beneficial owner of the policy then on her death the policy terminates and any gain is treated as part of her income for the tax year of her death i.e. she is liable (if at all) to income tax on the gain albeit subject...

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