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.
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