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Where Taxpayers and Advisers Meet

Search found 92 matches

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by riccardob
Fri Jan 13, 2017 12:53 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

I'd be grateful if Maths could give his opinion on all this.
by riccardob
Tue Jan 03, 2017 10:57 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

the scenario described is as you say, if b dies within seven years of making the gift to c.

do you agree it would be useful to avoid iht on the gift made by b?
i have had a look at the hmrc manual and it does not mention witnesses.is a witness definetly required?
by riccardob
Tue Jan 03, 2017 10:50 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

the scenario described is as you say, if b dies within seven years of making the gift to c.

do you agree it would be useful to avoid iht on the gift made by b?
by riccardob
Tue Jan 03, 2017 2:40 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

Thanks Ian.

If A is domiciled abroad and dies and leaves estate X to B, can B (UK dom) give the proceeds straight to C and safeguard this (X) from future death duties by writing a DOV?
I don't mind using a solicitor but I want to clarify whether a deed would help to avoid tax in the future.
by riccardob
Fri Dec 30, 2016 7:57 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

thanks. i have read the manual and it would seem that a letter of intent would constitute a dov providing it mentions certain statements and is underwritten by all beneficiaries of the estate. is it obligatory to use a solicitor and does it require witnesses? the doc provided does not mention witnes...
by riccardob
Thu Dec 29, 2016 10:08 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

the person is already dead.
i'll explain better: a has died and b has inherited from a but b is old and wants to donate to c.
as I understand it a dov written by b would help c avoid iht on b death.
is this correct?
if so does the dov need forwarding to hmrc as soon as its drafted?

thanks
by riccardob
Thu Dec 29, 2016 7:50 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

Re: question on deed of variation

thanks.

does the deed need to be lodged at hmrc even if the person passing on the assets it is still alive?
by riccardob
Thu Dec 29, 2016 2:35 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: question on deed of variation
Replies: 21
Views: 3998

question on deed of variation

Hello,

Can a deed of variation only cover part of an inheritance or does it have to be for the whole lot?
Also would a letter suffice as a deed of variation or does it need to be drafted by a solicitor and lodged at HMRC?

Thanks
by riccardob
Sun Dec 18, 2016 6:21 pm
Forum: Tax Investigations and Enquiries
Topic: Tax Evasion of 300k
Replies: 25
Views: 16690

Re: Tax Evasion of 300k (In this case more)

Three years after the first report went in, and two years after the HMRC were confirmed to have got quite interested in them, there is an update. Giving the HMRC photos, numberplates, names, dates, places, methods, suppliers that colluded, customers, actual transactions, amounts where known, cash h...
by riccardob
Sun Dec 18, 2016 6:18 pm
Forum: Tax Investigations and Enquiries
Topic: Tax Evasion of 300k
Replies: 25
Views: 16690

Re: Tax Evasion of 300k

I am glad to hear that someone got done. I reported a builder who lives near us, fancy car outside, big extended house etc wifey who does not work with range rover, 4 kids etc..and cash in hand work. His luxury car has gone which makes me hopeful something has happened but who knows. Also I don't th...

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