Wealth Management Planning: The UK Tax Principles

Wealth Management Planning addresses the major UK tax issues affecting wealth management planning for both the UK domiciled and non-UK domiciled individual. It explains, with numerous worked practical examples, the principles underpinning the three main taxes: income tax; capital gains tax; and inheritance tax.

It is aimed at those involved in providing advice in the field of wealth management planning including solicitors, accountants, financial planners, private bankers, trustees, students of tax and law and the layman seeking in depth knowledge. The recent Finance Acts 2006 and 2008, in particular, have modified significantly the tax rules in key areas applicable to wealth management planning. These new tax rules are all addressed in detail in this book and include the pre-and-post Finance Act 2006 inheritance tax treatment of trusts; the new post Finance Act 2008 residence rules; and the new Finance Act 2008 rules applicable to non-domiciled individuals and the tax treatment of off shore trusts.

In view of the increasingly international nature of wealth management planning the book attempts to place the UK tax rules in an international context addressing such issues as:-

• the role of wills in the international arena;
• the implications of the EU;
• the suitability of off shore financial centres;
• and the role and use of double taxation agreements.

Appendices bring together useful material produced by HMRC and a detailed bibliography for the interested reader is also included.