Trust Taxation 3rd ed

Trust Taxation covers the taxation of UK resident and non-resident trusts explaining in detail the income tax, capital gains tax and inheritance tax treatment of the various different types of trusts. The book covers the tax consequences of creating and ending a trust, as well as the tax issues to consider during the lifetime of each type of trust and on distributions to beneficiaries.

Part 1 contains an overview of trust law including recent case law on Hastings Bass, the categorisation of foreign entities, the new domicile and residence proposals and case law on residence and domicile generally. It also summaries the tax rules for foreign domiciliaries.

Parts 2 to 4 explain the relevant legislation in detail as it relates to trusts, including discussion of entrepreneurs' relief, rollover relief, reservation of benefit, excluded property and relevant property trusts.

Part 5 deals with special situations, including the family home, chattels, employee benefit trusts, pilot trusts, bare trusts, disabled trusts, will drafting, variations, business property relief and agricultural property relief, divorce and trusts.

Appendix 1 contains precedents that cross refer to the main text

Appendices 2 and 3 contain miscellaneous Revenue material and computations.

What you will find in the new edition:-

• An overview of the basic principles of a trust
• Explanations of the types of trusts and advice on the most appropriate ones to use in varying situations
• Specific and common scenarios to explain how the taxes are applied
• How past and present schemes worked and what legislation has been introduced to counteract them
• Specialist areas such as Bare Trusts, Reverter to Settlor Trusts and Trusts for minors and older children
• Illustrations for Inheritance Tax calculations