Trusts can provide clients with ways to achieve a wide variety of objectives, from protecting assets to minimising exposure to tax. This book gives you comprehensive guidance to enable you to: * consider each client's objectives * identify the applicable tax treatment * select the most appropriate trust * create and administer an effective trust. This practical and accessible how-to guide is supplemented by a set of tools and features including practice points, examples, tables, checklists, forms and figures that help ...
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Trusts can provide clients with ways to achieve a wide variety of objectives, from protecting assets to minimising exposure to tax. This book gives you comprehensive guidance to enable you to: * consider each client's objectives * identify the applicable tax treatment * select the most appropriate trust * create and administer an effective trust. This practical and accessible how-to guide is supplemented by a set of tools and features including practice points, examples, tables, checklists, forms and figures that help you to understand the administrative techniques for the main types of trust and to avoid potential negligence claims and tax penalties. The author also presents a clear account of the taxation of trusts, which unravels the complex provisions relating to inheritance tax, capital gains tax and income tax, to give practitioners an understanding of the application of tax to the administration of trusts and the confidence to explain its effects on the settlor, the trustees and the beneficiaries. This new edition has been substantially updated and expanded to include new chapters on the reporting requirements of FATCA and CRS and the Trusts Register, the removal of trustees including where trustees lack capacity, the increasing application of SDLT and ATED and the residential nil-rate band.
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