Inheritance tax: the nuances of ‘interest in possession’
Before the sudden reforms of the inheritance tax rules in March 2006, there was a fundamental distinction between life-interest trusts and discretionary trusts.
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Significant changes are underway to business rates
The Non-Domestic Rating Bill 2023, that applies in England and in part to Wales, makes significant changes to business rates.
Natural capital consultation
On 15 March, the government published a consultation on the ‘Taxation of environmental land management and ecosystem service markets’.
Land and buildings transaction tax and the additional dwelling supplement
In February 2022, the Scottish government launched a public consultation on wide-ranging reforms to the additional dwelling supplement (ADS), looking at:
Implied trusts and beneficial ownership: who is the real owner?
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‘Taxation of income is based on beneficial ownership, not legal ownership.
The practical challenges of identifying the right sort of trust
Testators have a range of possible trusts that can be used for partners, young children and grandchildren in their wills, including an immediate post-death interest, trusts for bereaved minors, and
Inheritance tax: choosing the right sort of trust to provide for partners, children and minors
Types of will trust
Even after the changes to the inheritance tax treatment of trusts that were made in March 2006, testators have a range of possible trusts that can be used for partners
The rules of domicile: what issues can impact an individual’s tax status?
The concept of domicile links an individual to a particular jurisdiction.
The concept of 'connected persons': what are the ties that bind?
The concept of connected persons appears throughout the direct taxes legislation.