Subjects:

Taxation

Announced as Personal Tax Planning: What to do before April 2008 with isbn 9781847034887

The Finance Act 2006 has brought about major changes to the inheritance tax regime for settlements. In addition, the pre-budget report on 9 October announced further inheritance tax changes and proposed major reforms to capital gains tax and the tax treatment of foreign domiciliaries.

There is now a short transitional period remaining until 6th April 2008 when trusts can be reorganized. During this time practitioners will need to understand the options available and how the inheritance tax regime will operate from 6 April.

Following the pre-budget report changes, existing will precedents should be re-thought and the position of nil rate band trusts, in cases where the testator has already died, reviewed. In some cases it will be desirable to bring these trusts to an end.

Inheritance Tax Planning – what do before 6th April 2008 with precedents by Emma Chamberlain and Chris Whitehouse provides exactly what you will need to know in order to carry out effective inheritance tax planning. It explores what IHT planning can and should be done during this period and how the IHT regime will operate from 6 April 2008 with an analysis of the implications going forward.

Precedents are provided at the end of each chapter.