The Taxation of Trusts 2007

The Taxation of Trusts 2007

With Finance Bill 2008 Update.


ISBN: 978-1-901614-34-3

Publication date: 01/10/2007

Price: £150.00

Topics Covered :
A Key Haven Intelligence Report
The Report

This Intelligence Report is a revised, updated and expanded second edition of "The Taxation of Trusts Post Finance Act 2006". The new Report takes into account the changes made by both Finance Act 2007 and Income Tax Act 2007, as well as the recent important House of Lords decision on settlements, Jones v Garnett. The Report also contains a new chapter on calculating charges to Inheritance Tax on relevant property settlements.

The author deals with the major changes introduced by Finance Acts 2006 and 2007 and Income Tax Act 2007 to inheritance tax, capital gains tax and income tax as they affect trusts, their settlors and beneficiaries. An important feature of the Report is the pragmatic discussion of new strategies for survival under the new regime.

The Intelligence Report is intended primarily for barristers, solicitors, accountants, chartered tax advisers, professional trustees, officers of trust corporations and other professionals who already have a working knowledge of the United Kingdom taxation of trusts before the 2006 changes.

The Author
Robert Venables Q.C. Is an acknowledged expert on taxation, particularly the taxation of trusts, inheritance tax and offshore and international taxation. He is the author of several seminal works on trusts and taxation, including Non-Resident Trusts and Inheritance Tax Planning.

In the course of his practice at the bar over the last quarter century (and particularly since being appointed Queen’s Counsel in 1990) he has advised on sophisticated planning for many trusts, both at home and abroad, and appeared in landmark cases in the House of Lords, the Privy Council and the European Court of Justice, as well as in the Court of Appeal and High Court. Famous cases involving trusts and/or inheritance tax in which he has appeared include Lady Ingram, Jerome v Kelly, R v Dimsey, and Marshall v Kerr in the House of Lords and Howell v Trippier in the Court of Appeal.

He was Chairman of the Revenue Bar Association of England and Wales 2001-05, is a Master of the Bench of the Middle Temple and a Fellow and Council Member of the Chartered Institute of Taxation. He was a full-time Oxford law don in the 1970's and is now a non-executive Fellow of the college of St Edmund Hall, in the University of Oxford.

Chapter 1 The New World

Chapter 2 First Principles

Chapter 3 Important Concepts, Old and New

Chapter 4 Recognised and Unrecognised Interests in Possession

Chapter 5 Immediate Post-death Interests

Chapter 6 Transitional Serial Interest Type I: Section 49C Interests

Chapter 7 Transitional Serial Interest Type II: Section 49D Interests

Chapter 8 Transitional Serial Interest Type III: Section 49E Interests

Chapter 9 Disabled Person's Interest

Chapter 10 Taxation of Interest in Possession Trusts

Chapter 11 Accumulation and Maintenance Trusts

Chapter 12 Section 71A Trusts for Bereaved Minors

Chapter 13 Section 71D Age 18-to-25 Trusts

Chapter 14 Insurance Policies

Chapter 15 Wills and Variations of the Estates of Deceased Persons

Chapter 16 Capital Gains Tax: Inheritance Tax Related Changes

Chapter 17 Capital Gains Tax: Other Changes

Chapter 18 Income Tax Changes

Chapter 19 Gifts with Reservation of Benefit and Previously Owned Assets

Chapter 20 Strategies for pre-B Day interest in possession Trusts

Chapter 21 Strategies for pre-B Day accumulation and maintenance Trusts

Chapter 22 Strategies Using New Trusts

Chapter 22A The Income Tax “Settlement” Provisions Post Jones v Garnett

Chapter 23 Epilogue

Appendix A Calculation of Inheritance Tax Charges on Relevant Property Trusts