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Where Taxpayers and Advisers Meet

Search found 112 matches

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by Brightonian
Tue Sep 08, 2020 4:10 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: dividends declared but not paid at death of life tenant
Replies: 2
Views: 1208

Re: dividends declared but not paid at death of life tenant

Thank you, Maths. That is very clear and much appreciated.
by Brightonian
Sun Sep 06, 2020 10:20 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gifts out of income
Replies: 2
Views: 1079

Re: Gifts out of income

Dear Lee,

Thank you very much for taking the trouble to reply. It makes perfect sense when you think it through and I will do as you suggest. Thank you.
by Brightonian
Wed Aug 19, 2020 11:51 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Gifts out of income
Replies: 2
Views: 1079

Gifts out of income

I am completing IHT403 for a client who made regular gifts to his children and grandchildren.He had surplus income but the calculation is a little tight. Am I able to deduct the annual £3,000 exemption before showing the balance a gift out of income? I can't find any mention of the interaction betwe...
by Brightonian
Fri Jul 17, 2020 9:06 am
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 748

Re: non resident selling UK home

Thank you bd6759. I may have missed a trick on the nomination front but, as he did change employment several times without ever reoccupying the property, it does look as though it doesn't matter.
by Brightonian
Fri Jul 17, 2020 9:01 am
Forum: Capital Gains Tax, CGT
Topic: Capital losses
Replies: 2
Views: 377

Re: Capital losses

Thank you very much. Oddly enough, I couldn't find that.
by Brightonian
Thu Jul 16, 2020 8:05 am
Forum: Capital Gains Tax, CGT
Topic: Capital losses
Replies: 2
Views: 377

Capital losses

Is it possible to disclaim brought forward capital losses for a particular year? My client will have a capital gain this year and has losses brought forward from the early 2000s. However, any UK tax paid by him can be offset against tax he has to pay overseas on the same gain. Therefore it would be ...
by Brightonian
Wed Jul 15, 2020 3:39 pm
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 748

Re: non resident selling UK home

Thank you both for taking the time to respond. I see that there are several pitfalls here. He worked for several different employers during his period of absence but there was never a substantial gap between any of them. I did not think that the number of employments made a difference. He did buy a ...
by Brightonian
Tue Jul 14, 2020 5:15 pm
Forum: Capital Gains Tax, CGT
Topic: non resident selling UK home
Replies: 5
Views: 748

non resident selling UK home

I am wondering if I am being a little naive here.A foreign national buys a house in the UK and lives in it, as his main residence, for some years before going to work abroad in various countries. He has no intention of ever returning to the UK. He lets the UK property out. Finally, in 2020 he decide...
by Brightonian
Tue Jun 23, 2020 3:17 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: dividends declared but not paid at death of life tenant
Replies: 2
Views: 1208

dividends declared but not paid at death of life tenant

The life tenant died on 8 April, at which time there were several dividends that were xd. There was also a unit trust income distribution declared but not paid. The trust funds now go into an existing discretionary trust for the settlor's grandchildren. I am preparing the IHT400 etc. I am assuming t...
by Brightonian
Mon Jun 01, 2020 4:48 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Memorial service
Replies: 2
Views: 875

Re: Memorial service

Thank you, Maths. I appreciate your advice. It is not a huge estate and does seem disproportionate. I will see what they say.

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