IHT in Discretionary Trusts

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IHT in Discretionary Trusts

Learning Objectives

To discuss the loss to donor concept and when to use it.
To review the related property rules and when to use them.
To explain how to calculate the entry, exit, and 10-yearly charges.
To identify why and how the exit charges differ before and after a 10-yearly charge.

Course Description

IHT calculation in discretionary trusts can be complex within the relevant property regime.

When calculating the entry charge, trustees must consider whether the trustee or the donor paid the taxes and whether the tax charge should be on the net or gross amount. There are complications, such as the requirement to value the transferred assets at a 'loss to donor' and the related property rules, which can make it difficult for the entry charge to capture the market value of the assets transferred into the trust. The tax implications of exit charges can be equally complex when trustees pay taxes.

Key topics covered in this online webinar are:

IHT Entry charges and grossing up
The loss to donor concept, related property, and BPR/APR
IHT Exit charges in the first ten years
IHT Ten yearly charge
IHT Exit charges after the first ten years

In this CPE webinar, we will examine the entry, exit, and 10-year charges inside a relevant property regime trust, with examples and case studies illustrating how those charges should be calculated.

Webinar Qualifies For

2 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
2 CPD Credit for Association of Chartered Certified Accountants (ACCA)
2 CPD Credit for Chartered Accountant - ICAEW
2 CPD Credit for Chartered Accountants - Scotland
2 CPD Credit for Chartered Accountants - Ireland (CAI)
2 CPD Credit for CPA - Ireland

About Instructor

Megan Saksida

Owner, Meganomics

Meg Saksida BA FCA CTA (Fellow) TEP is a lecturer, writer, editor and examiner with a speciality in UK private client tax. Meg wrote and co-wrote the following technical manuals for Claritax books: Inheritance tax- lifetime transfers and the death estate, Income tax- The annual, and Capital gains tax- The annual. She is also a regular contributor to a number of UK tax publications including Tax Adviser, Taxation and TaxInsider and is an examiner and external examiner for four UK tax papers.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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Ratings and Review

4.1

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Emma Simpson, ACCA

Great webinar on a tough subject

2 Credits

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Subject Area

Taxes

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IHT in Discretionary Trusts

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Megan Saksida

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

Ratings and Review

4.1

Emma Simpson, ACCA

Subject Area

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