Private Client Tax and Estate Planning with Precedents

This highly practical new work shows practitioners how to most efficiently arrange a client’s estate for the purposes of passing down assets to the intended recipients and mitigate the tax liability. Its main focus is the actual scenarios faced in practice by will and trust practitioners, with each section dealing with an area where tax planning is commonly required. It gives detailed guidance on how Inheritance Tax, Capital Gains Tax and preowned asset tax apply in each situation and explains the transactions involved for the desired outcome. Each section contains precedents to demonstrate how the aims can be achieved.

• Structured by the type of asset rather than the type of tax so users can find solutions to a specific problems quickly and easily
• Explains the different taxes that apply to the specific asset or problem
• Provides solutions to common private client situations, such as protecting property from a former spouse and their descendants or avoiding nursing home fees when there is a family home in the estate
• Uses worked examples, calculations and diagrams to illustrate concepts, outcomes and possible solutions
• Describes and explains all recent changes from the Finance Act 2006 and Pre-owned Assets regime
• Provides precedents to demonstrate how the transaction would work in practice
• Sets out HMRC guidance notes
• Reproduces questions and answers between the authors and HMRC to clarify points