The beneficiary of a trust can live in a property held within a trust as their main residence and on the future disposal of the property Principal Private Residence ... Continue Reading
‘Value shifting’ occurs when the value of a property is altered as a result of passing an interest in the property to another. Anti-avoidance ... Continue Reading
There is an exemption for inheritance tax purposes in addition to the £3,000 annual allowance for gifts made out of income on a regular basis. It is important ... Continue Reading
Beneficiaries under a deceased’s will are deemed to inherit the assets at their market value at the date of death. However, if a property is sold within ... Continue Reading
A ‘Mesher’ order is a court order that postpones the sale of the marital home, the actual date of sale being dependent upon certain specified events. If ... Continue Reading
‘Hold-over’ relief is a way of deferring payment of CGT on certain assets including land and buildings used in a business until the new owner of the ... Continue Reading
The tax rules state that the purchaser’s entitlement to capital allowances in relation to a commercial property purchase is restricted to the disposal value ... Continue Reading
The ‘pre-owned assets tax’ (POAT) is an income tax charge levied on the ‘benefit’ earned on any property that had been formerly owned ... Continue Reading
Stamp duty land tax (SDLT) is charged on ‘money or money’s worth’, defined very widely to include consideration given directly by the purchaser ... Continue Reading
How does it work? • The beneficiary has the right to receive an income for a defined period (usually for the remainder of the beneficiary’s ... Continue Reading
