IHT in Discretionary Trusts - A Live Guide for Private Client Professionals

Introduction

There are specific rules and procedures for inheritance tax in both qualifying interest and possession trusts (‘QIIP’) and relevant property trusts.

Although the QIIPs are treated in a straightforward way for inheritance tax, relevant property trusts are far more complicated, and calculations can be tricky.

This new virtual classroom seminar will address these issues showing how to deal with the IHT in the trust at all stages including the creation of the trust, when assets are added to and leave the trust and the periodic charges that are incurred every ten years.

The session will guide you through both the legislation and many practical examples, introducing you to what is important to know about how we tax relevant property trusts.

Throughout the session, there will be interactive quizzes and case study exercises to reinforce your learning.

What You Will Learn

This live and interactive course will cover the following:

• How to calculate the initial value of the trust
• The calculation of exit charges and how they differ depending on when the exits are made
• Calculating the effective interest
• How to deal with BR and AR
• How to calculate the principal charge
• How to calculate exit charges incurred after the principal charge
• How to deal with additions into the trust
• Issues surrounding accumulated and undistributed income
• Other miscellaneous issues such as heritage property and the excepted settlements legislation

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.