Tax Plus Blog - Inheritance tax
Inheritance Tax - don’t moan, it’s a loan!
Date: 22nd March, 2013 | Author: Liz Cuthbertson | Comments: 0
Don’t moan, it’s a loan! One of the anti-avoidance measures announced today impacts upon Inheritance Tax (IHT) schemes which have been marketed by certain promoters. It is anticipated that this will save £5m of IHT in 2013/14, increasing to £20m in 2014/15, although it is difficult to ascertain how these figures have been arrived at. The IHT measures, as announced, will seek to deny a deduction for a loan in a person’s chargeable estate for IHT purposes. The particular circumstances where relief will be denied involve a situation where the loan was...
Download Mercer & Hole’s summer edition of Tax Plus
Date: 25th July, 2012 | Author: Helen Price | Comments: 0
In this Summer edition of Tax Plus, we are delighted to bring you a selection of topical tax issues. Since our March 2012 Budget Special edition, we have seen further details from the government on pre-announced measures due to come into effect from April 2013. The most controversial of these is the plan to tax ownership of residential properties held within certain structures and we have prepared an article on this to explore the implications for you in greater detail. We also have articles on other government announcements in relation to placing additional PAYE obligations on certain companies and resurrecting the Statutory...
IHT - Aim to limit relief?
Date: 28th October, 2011 | Author: Lisa Spearman | Comments: 0
The twittersphere contains reports that business property relief for IHT on unquoted stocks and shares may be removed in the next budget. This area has long been recognised as a generous relief but it is not clear whether this is merely the latest rumour or if there is any substance to the story. Certainly it does not take a huge change in the legislation to re focus the relief onto owner managed businesses rather than AIM portfolios of investments. November 29 is probably the earliest date for any announcement but it is worth considering now if there is anything to be...
Bad news for US beneficiaries of foreign trusts
Date: 13th September, 2007 | Author: Lisa Spearman | Comments: 0
Last month the American version of HM Revenue and Customs, the IRS published a radical “technical advice memorandum” (TAM) which set out its view that US beneficiaries of offshore (i.e. non US) trust / holding company are taxable on a corporate reorganisation within the structure under the Passive Foreign Investment Company (PFIC) rules. ...
Nothing for nil rate band on death?
Date: 25th June, 2007 | Author: Lisa Spearman | Comments: 0
Our new edition of Tax Plus is now online for your reading pleasure. Current articles include:- The tale of Mrs. Phizackerley Limit loss relief A&M trusts Double your pension money! and much more can be located...
