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List of contents
Chapter 1 Introduction
Chapter 2 Background
Chapter 3 Starting a trust
Chapter 4 Running a trust: income tax
Chapter 5 Running a trust: capital gains tax
Chapter 6 Running a trust: inheritance tax
Chapter 7 Trusts for disabled persons and vulnerable beneficiaries
Chapter 8 Ending a trust
Chapter 9 Deceased estates: introduction
Chapter 10 Deceased estates: practical IHT considerations
Chapter 11 Deceased estates: income tax and CGT
Chapter 12 Deceased estates: post-death re-arrangements
Chapter 13 Stamp duties: trustees and personal representatives
About the author
Iris Wünschmann-Lyall is a solicitor and specialises in estate planning, trusts, probate and tax related matters and is a Registered Trust and Estate Practitioner.
Chris Erwood is a qualified associate of both the Chartered Institute of Taxation and STEP.
Summary
Trusts and Estates 2019/20 is a practical and accessible reference book that provides clear guidance on compliance and operation under current law. This publication is indispensable when starting, running or ending a trust, or dealing with a deceased’s estate.
Updates for the 2019/20 edition include:
Updated to Finance Act 2019 and changes in HMRC practice and guidance including the new Probate Fees
Case law – including The Personal Representatives of Grace Joyce Graham (Deceased) v Revenue and Customs (business property relief), Whittaker v Hancock (Attorneys acting as PRs), Palliser v Revenue & Customs (hope value when valuing property)
Changes to valuations of chattels as announced by HMRC in August 2018.
Changes to the filing dates for SDLT returns which apply to trustees and executors.
Written by two of the leading experts in this field, this title is packed full of tax tables and relevant commentaries to enable practitioners to gain a better understanding of current tax law so they can confidently organise their clients’ financial affairs in a tax-efficient and compliant manner.
This accessible reference guide has a user-friendly and logical structure with ‘signposts’ at the beginning of each chapter to summarise key topics and ‘focus points’ throughout to highlight important issues. Numerous worked practical examples demonstrate how to apply the main principles in practice and all examples are listed in a separate table index for quick navigation.
Foreword
An essential reference guide for trustees, personal representatives and their professional advisers to the tax aspects of dealing with trusts and deceased estates, specifically in satisfying their various compliance responsibilities to HMRC.
