Inheritance Tax Planning & Opportunities - An Introduction
Once considered a tax only for the rich, more and more estates are being caught within the inheritance tax net. This isn't just a tax on death, either, but can catch lifetime gifts made by the unwary or ill advised.
With property prices increasing considerably faster than the nil rate band an increasing number of households are becoming burdened with inheritance tax. This has resulted in an increase of clients seeking to mitigate inheritance tax.
This introductory course will address the essential tools for advising clients on inheritance tax planning. Attendees will be able to consider what planning opportunities, exemptions and reliefs are available, what works best in different circumstances, how to advise their clients on the risks and rewards and how to avoid common pitfalls.
Reference will be made to the most recent case law including Loring v Woodland Trust on nil rate bands, Routier v HMRC on charitable gifts and Green v HMRC on business property relief, as well as established authorities.
The course is aimed at solicitors, accountants and all professional advisors who wish to learn the essentials behind inheritance tax ('IHT') planning.
What You Will Learn
This course will cover the following:
- Recent legislative changes including the new Nil Rate Band for main residences
- The proposed extension of the Disclosure of Tax Avoidance Schemes (DOTAS) regulations to cover inheritance tax
- The application of the General Anti Avoidance Rule ('GAAR')
- How to mitigate against inheritance tax on death and for lifetime gifts, including the inheritance tax treatment of trusts
- Overviews of Business Property Relief, Agricultural Property Relief and the treatment of charitable donations in the light of key cases
- Maximising the benefits of Business property relief / Agricultural property relief
- Nil rate band planning
- Taxation of trusts: recent new law
- Disclosure of Tax Avoidance Schemes: the new IHT hallmark
- Inheritance Tax and the new 'deemed domicile' rule
Quick Quiz - Test Your Knowledge: Just click Wills, Probate & IHT
2:00pm - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme