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Basics of UK Trusts & Its Taxation 1 Credit 1 Credit

Sep 02, 2024, 04:00 PM ET

Basics of UK Trusts & Its Taxation 1 Credit 1 Credit

  • Chris Thorpe

    CTA (Fellow)

  • Rating

    4.7

  • Published on

    December, 1969

  • Subject Area

    Taxes

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Live Webinar
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Sep 02, 2024, 04:00 PM ET

Learning Objectives

  • To recognize the difference between express trusts.
  • To analyze the differing income tax treatments.
  • To discuss some of the uses of trusts concerning CGT and IHT.

Course Overview

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

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
CPA - Ireland 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible
License details Credits Status
Association of Chartered Certified Accountants (ACCA) 1 CPD Eligible
Chartered Accountant - ICAEW 1 CPD Eligible
Chartered Accountants - Ireland (CAI) 1 CPD Eligible
CPA - Ireland 1 CPD Eligible
Chartered Accountants - Scotland 1 CPD Eligible

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

About Instructor

Chris Thorpe

Chris Thorpe , CTA (Fellow)

Technical Officer, Chartered Institute of Taxation

  • 4.8
  • rating
  • rating
  • rating
  • rating
  • rating

Chris is a Fellow of the Chartered Institute of Taxation and a member of the Society of Trust & Estate Practitioners. Having trained at Grant Thornton and previously qualifying as a barrister, he worked as lecturer at Mercia Group as well in several accountancy firms. He now works as a technical officer at the Chartered Institute of Taxation and is the author of Implied Trusts and Beneficial Ownership in Modern UK Tax Law.

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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

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After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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