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Relevant inheritance tax principles

Rayney’s Tax Planning for Family and Owner-Managed Companies: 2023/24

Author:
Peter Rayney FCA, CTA (Fellow), TEP
Publisher:
Bloomsbury Professional
Publication Date:
2024
Law Stated At:
6 April 2024
Chapter 17: Succession Planning and Passing on the Family or Owner-Managed Company Scope of IHT Domicile and IHT deemed domicile rules IHT rates and nil rate bands The residence nil rate band (RNRB) ‘Loss to donor’ principle Deliberate ‘deprivation of capital’ to reduce care home fees Commercial and arm’s length transactions Computing IHT on a lifetime chargeable transfer Related property Main exemptions Excluded property UK residential property held indirectly via excluded property trusts Potentially exempt transfers (PETs) Gifts with reservation of benefit (GROBs) IHT crystallising on a PET Types of lifetime chargeable transfers Treatment of lifetime chargeable transfers ...

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