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Ray & McLaughlin’s Practical Inheritance Tax Planning

Authors: Mark McLaughlin, Geoffrey Shindler, Paul Davies, and Rebecca Sheldon

Edition: 17th

Publication Date: November 2020

Publisher: Bloomsbury Professional

Law As Stated At: 31 October 2020

Ray & McLaughlin’s Practical Inheritance Tax Planning

Ray & McLaughlin’s Practical Inheritance Tax Planning

Ray and McLaughlin's Practical Inheritance Tax Planning is a long-established first port of call for private client advisers working with clients on inheritance tax planning engagements.

The practical commentary addresses the main planning points, potential pitfalls and possible solutions for IHT and estate planning purposes.

Since the previous edition this latest title picks up on the important changes to HMRC practice, new case law and legislation.

These include:

  • The changes introduced by Finance Act 2020 relating to excluded property and transfers between settlements
  • Finance Act 2020 also introduced a relief for payments to victims of persecution during the Second World War
  • Updated commentary in light of Banks v Revenue and Customs (donations to political parties (para 9.28))
  • Commentary added to reflect Revenue and Customs v Parry & Ors (omission to exercise pension rights and dispositions not intended to confer a gratuitous benefit (para 1.22)

Mark McLaughlin is a consultant with Mark McLaughlin Associates Ltd (www.markmclaughlin.co.uk), and also The TACS Partnership (www.tacs.co.uk). He is a fellow of the CIOT and ATT, a member of STEP and a member of the CIOT's Succession Taxes and CGT and Investment Income Sub-Committees. Mark has written many tax publications and articles, including 'McLaughlin's Tax Case Review' (www.taxinsider.co.uk) and is Co-Founder of TaxationWeb (www.taxationweb.co.uk).

Geoffrey Shindler OBE has specialised in the area of capital taxes, trusts and wills for 40 years. He is the editor of Trusts and Estates Law & Tax Journal, Trust Drafting and Precedents (Looseleaf, Bloomsbury Professional) and a member of the Editorial Board of Wills & Trusts Law Reports and The Conveyancer and Property Lawyer.

Paul Davies is a partner in the private client team of DWF LLP solicitors in Manchester. He is a member of the CIOT and STEP, and practised briefly as a chartered accountant prior to qualifying as a solicitor in 2003.

Rebecca Sheldon is a tax barrister at Old Square Tax Chambers with a mixed advisory and litigation practice and is qualified to accept instructions directly from the public. She specialises in all areas of taxation, including IHT, SDLT, CGT, VAT, taxation of trusts, UK residence and domicile rules and employee taxation. Rebecca holds first class law degrees from Durham and Cambridge and was graded “outstanding” on the BPTC.

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