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Where Taxpayers and Advisers Meet

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by riccardob
Wed Aug 29, 2012 9:33 pm
Forum: International Tax
Topic: Transfer of large sum
Replies: 2
Views: 687

Transfer of large sum

Hi,

If one receives a large transfer of money, say 700k, after inheriting money from abroad, do the banks have to carry out enquiries before the money is released?

Is there any way of avoiding hassle such as a temporary freeze of a bank account?

thanks
by riccardob
Fri Aug 17, 2012 10:29 am
Forum: Income Tax
Topic: Basic P60 question
Replies: 1
Views: 1897

Basic P60 question

Hi,

A question on my P60 which I need to use for SA purposes.

The first box "pay" shows a figure which is less than my gross salary.
Yet in the boxes below called "National Insurance contributions in this employment" adding the figures shows my gross salary amount.
Is it a cockup?

thanks
by riccardob
Thu Mar 22, 2012 8:12 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: I am italian UK resident inherited property in Italy
Replies: 7
Views: 1757

Re: I am italian UK resident inherited property in Italy

I don't understand why the italian authorities want you to have a fiscal domicile in italy.
At the end of the day one can leave his estate to anyone living anywhere in the world so it should not really be relevant.
You could be a foreign citizen, how are you supposed to have an address in Italy?
by riccardob
Tue Feb 07, 2012 11:30 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Question on deed of variation
Replies: 18
Views: 2848

Re: Question on deed of variation

The text to which I referred does not explicitly state that a PoA cannot be used to execute a DoV. What the text does is to identify the conditions under which a PoA can be used by the donee to make a gift. I have just noticed that my earlier posting stated: "In general the donee of an enduring pow...
by riccardob
Tue Feb 07, 2012 11:27 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Question on deed of variation
Replies: 18
Views: 2848

Re: Question on deed of variation

The text to which I referred does not explicitly state that a PoA cannot be used to execute a DoV. What the text does is to identify the conditions under which a PoA can be used by the donee to make a gift. I have just noticed that my earlier posting stated: "In general the donee of an enduring pow...
by riccardob
Tue Feb 07, 2012 7:43 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Question on deed of variation
Replies: 18
Views: 2848

Re: Question on deed of variation

Hi Maths, I was looking for the text where it states that a POA cannot be used to execute a DOV. Can you provide the link or if possible explain the relevant clause. Personally I find it strange that a POA cannot be used for this purpose but I am ignorant on these legalities. Many thanks for your help
by riccardob
Mon Feb 06, 2012 11:17 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Question on deed of variation
Replies: 18
Views: 2848

Re: Question on deed of variation

The plot thickens.

I have looked for the sections mentiond by maths in here http://www.legislation.gov.uk/ukpga/2005/9/contents
but I cannot find anything that relates to a POA situation.

I would be grateful if the paragraphs Maths has specified coule be copied here or a link provided.

many thanks
by riccardob
Sun Feb 05, 2012 12:02 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Discretionary nil-rate trusts
Replies: 4
Views: 900

Re: Discretionary nil-rate trusts

Do these discretionary wills have to have the word "discretionary trust" specified? The reason I am asking is that my family may be in the OP situation. My parents have a will which states "I give devise and bequeath all my property both real and personal whatsoever and wheresoever ("my property") t...
by riccardob
Tue Jan 31, 2012 7:29 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Question on deed of variation
Replies: 18
Views: 2848

Re: Question on deed of variation

thanks maths. How come a POA cannot be used for deed of variation purposes?
by riccardob
Tue Jan 31, 2012 7:27 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: Father domiciled in France but left an account in the UK
Replies: 4
Views: 1189

Re: Father domiciled in France but left an account in the UK

I am not a tax adviser but you say your father is non uk domiciled. I would be worried that HMRC are asking questions about his house in France. If he is not UK domiciled HMRC should not be enquiring about assets located overseas as they would not fall under UK IHT anyway. Are they fishing with the ...

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