Property Ownership & Trusts - The Tax Implications Explained
This webinar will explain the tax implications of trusts owning property, whether held as an asset for a beneficiary to occupy, or as an income producing investment.
These issues will be explained as a case study, giving an overview of the income tax, capital gains tax, SDLT and inheritance tax considerations from creation of the trust to its closure.
It will consider the ramifications of the interest relief restrictions on buy-to-lets, as well as covering long-standing reliefs such as principal private residence relief (including Budget 2018 changes) and hold-over relief.
- Why trusts are beneficial to hold property for future generations
- How SDLT is applied on a trust property acquisition (including the recent relaxation of SDLT for transfers between spouses)
- When discounts may apply to the value of property in trust and how this can affect the tax payable
What You Will Learn
This webinar will cover the following:
- The advantages and disadvantages of holding property in trust
- The taxes arising and reliefs available on the transfer of property into and out of trust
- The taxation of rental income, including examples as to how the interest relief restriction will increase the trustees’ tax liability
- How recent changes to principal private residence relief affect the taxation of the trust