This sub-topic covers the inheritance tax charges that apply to relevant property trusts. Firstly the sub-topic explains the taxation of all types of trusts. There is an explanation of what relevant property is and how to identify it and how to identify the date on which the settlement began. The sub-topic also explains how to calculate IHT charges arising when a trust is set up, on the 10-year anniversary and when assets leave the relevant property regime. Changes to the exit charge and 10-year charge calculations were made from 18 November 2015 and two different note cover how to calculate charges that crystallised before these dates. Finally, a note covers the changes to the inheritance tax treatment of trusts that happened in March 2006.
The Taxation of trusts ― introduction guidance note explains the different interests that a beneficiary can have in a trust and
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Tax implications of administration and liquidationThis guidance considers the tax implications of a company going into administration or liquidation.Introduction to company administration and liquidationCompany going into administrationA company which is in financial difficulty may go into
Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’
VAT registration ― artificial separation of business activities (disaggregation)This guidance note should be read in conjunction with the VAT registration ― compulsory guidance note and is relevant to persons established or resident in the UK. Persons that are not established or resident in the UK