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Recently, there has been much litigation about the procedural aspects of the tax code, including several decisions of the Supreme Court on the Taxes Management Act 1970 alone.

In the January 2022 issue of Tax Adviser, we examined the changes that had been made to trusts from 18 November 2015 in Finance (No.2) Act 2015.

One effect of the inheritance tax changes to trusts in Finance Act 2006 was that trusts within the ‘relevant property regime’ became much more common.

The normal expenditure from income exemption provides a valuable exemption from inheritance tax. Where available, gifts made are immediately outside the donor’s estate.

No major changes to inheritance tax and capital gains tax will be flowing from the Office of Tax Simplification (OTS) reports, after the Treasury’s formal response on 30 November.

Family investment companies (FICs) are becoming increasingly popular in today’s age.

Under Finance Act 1986 s 102, when there is a reservation of benefit in gifted property at the date of death, for inheritance tax purposes that property is treated by sub-section (3) as proper

The events of the last year have focused our minds, leading many people to review or write their wills. However, the will is only one part of dealing with an estate.

In my first article in the March issue of Tax Adviser, I considered how home loan arrangements were set up and HMRC’s historic attack on them.

The home loan scheme (or, as it is sometimes known, the ‘double trust’ scheme) became a popular way of avoiding inheritance tax on the family home in the early 2000s.