Course Description
It is important to understand the tax implications of trusts particularly in recent times where there is increasingly complex anti-avoidance legislation in this area. The trustees of a trust are chargeable to tax, and so a trust will usually be subject to income tax and capital gains tax during its lifetime.
This CPD Tax course will look into the different types of trusts and their characteristics. In particular, this will look at the income tax and capital gains tax treatments and compliance requirements and some of the reliefs for the latter - BADR, PPR, and holdover. The inheritance tax and relevant property regime will be looked at and how the different trusts are affected by these rules.
Join this CPD webinar by Chris Thorpe, we will highlight the income tax implications of receiving income from a trust and the IHT and CGT implications of the transfer of assets to and from trustees.
Chris is a Fellow of the Chartered Institute of Taxation and a member of the Society of Trust & Estate Practitioners. He is the Technical Officer for the CIOT's Digital & Agent Services, Private Client (International), and Scottish Taxes committees. He started his career in private practice in 2008, training at Grant Thornton and subsequently specializing in agricultural and private client taxes. He has expertise in Income Tax, Inheritance Tax, trusts & Estates, and Owner-Managed Business Taxes in the United Kingdom.
Key Topics Covered:
- Advantages of the relevant property
- Other considerations for clients
- Types of express trusts
- Gift holdover relief
- Business Asset Disposal Relief - Trusts
.webp "Passive Activities & Rental Real Estate Income Tax Issues")
.webp "Federal Tax Update – Individual & Business Current Developments")
.webp)
