TolleyGuidance IHT, Trusts & Estates

The IHT, Trusts and Estates module of TolleyGuidance provides comprehensive advice on private client matters. It covers inheritance tax in entirety, as well as income tax and capital gains tax as they apply to trusts and estates. Notes on planning are linked to the appropriate technical guidance.  In addition to taxation, it includes material on the law and administration of trusts and estates, on topics such as intestacy, applying for probate and trustees' powers.

For practitioners who are unfamiliar with this specialist area, it aims to explain complex concepts in plain language to enable them to deal with compliance matters and tax planning queries without referring to an expert. Detailed examples demonstrate the effect of the rules on real life situations.

For the specialist private client practitioner, it goes beyond the summary of legislation found in other tax publications, and provides practical guidance on the effect of the law, on broad topics such as vulnerable beneficiaries, the tax pool, gifts with reservation and trusts for children. There are extensive notes on the popular planning topics of business property and agricultural property relief.


"I encourage others to use TolleyLibrary and TolleyGuidance to find answers for themselves rather than referring to me – it cuts down my time and they learn to do it for themselves."

Nick Harrop
Tax Director
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  • To make it quicker and easier for you to find the guidance you want, the module is divided into the following eight areas:

    Principles of inheritance tax

    Inheritance tax planning

    The charge to inheritance tax

    Lifetime planning

    Inheritance tax reliefs

    Will planning

    Calculation of inheritance tax

    APR planning

    Gifts with reservation (inc. POAT)

    BPR planning

    Anti-avoidance

    IHT schemes


    Special topics


    Overseas planning

    Trusts                                                                        

    Trusts - income tax and capital gains tax

    Using trusts

    Tax categories for trusts

    Creating a trust 

    Income and expenses

    Administering a trust

    Income tax for trusts and beneficiaries

    Trust assets and investments

    Capital gains tax

    Trust accounts

    Special categories

    Distribution and the use of trust assets

    Tax returns and compliance 

    Termination

    Offshore trusts (IT and CGT) 

    Offshore trusts general principles


    Estates                                                                        

    Estates - income tax and capital gains tax

    Introduction

    Overview

    Application for probate

    Tax liabilities of the deceased

    Administering the estate

    Tax liabilities of the estate

    Distribution of the estate

    Beneficiaries' tax position

    Changes to the distribution


    Estate Accounts


    Cross border estates


    Charities                                                                               

    Estates - inheritance tax

    Charities administration

    Calculation of IHT on death

    Charities and tax

    Inheritance tax compliance for deceased estates