Property Ownership & Trusts - A Live Guide to the Tax Implications
This new virtual classroom seminar 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 using case studies, 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 and hold-over relief.
- Why trusts are beneficial to hold property for future generations
- How SDLT is applied on a trust property acquisition
- When discounts may apply to the value of property in trust and how this can affect the tax payable
- The problems relating to providing employee accommodation
- Why trusts are so useful in IHT planning with property
- How trusts can be effective against care home fees
What You Will Learn
This live and interactive session will cover the following:
- The advantages and potential 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 how the interest relief restriction will increase the trustees’ tax liability (with examples)
- How recent changes to principal private residence relief affect the taxation of the trust
- How the property is taxed at the 10-year anniversary and how multiple trusts can be effective
- How trusts are used as part of the overall IHT planning strategy
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.