This is an advanced course which can either build upon our Certificate in Private Client Tax course, or act as a standalone for those confident in the basics who want to get into the nitty gritty of technical private client tax planning. This course addresses key issues around IHT and CGT planning in relation to mainstream private client work, particularly issues arising in estates and trusts.
Interactive and including case studies, it features many practical planning tips that should help you advise clients, including those inheriting residential properties or holding interests in trusts. Extended from a three-hour to a five-hour course by popular demand, this course is packed with content and discussion to make it an informative and unmissable day.
IHT Residence Nil Rate Band (RNRB) basics including downsizing relief
Planning to maximise the use of RNRB and to mitigate the loss of RNRB for estates over £2m, looking at the crucial planning issues for spouses with RNRB.
IHT Nil Rate Band Discretionary Trusts: exploring when and how to use NRB D/Ts as they make a ‘comeback’ due to RNRB; together with the effective use of exemptions and reliefs in lifetime and will planning.
Transferable Nil Rate Band and the interaction with using the Nil Rate Band
Lower rate (36%) of IHT if 10% of net estate to charity
Understanding the component parts, and merger of components, along with the great under-used potential of the lower rate.
Deeds of Variation: planning issues around variations
including use of the Nil Rate Band & NRB D/Ts and the 36% rate
rearranging trusts within two years of death using s. 144
CGT Main residence relief: the key rules and some planning issues arising
SDLT: the 3% higher rate for additional properties & how it works
Planning issues, especially with estates (properties inherited) and trusts; how the charge interacts (or doesn’t) with first time buyers’ relief.
Pensions death benefits: the tax rules
Planning issues arising alongside drafting wills, and estate administration, and the future for spousal by-pass trusts.