Trusts and Estates The New Income Tax Rules

Course Overview

April 2016 has see the introduction of new income tax rules and many solicitors are struggling to make sense of what these mean in practice both for themselves and their clients

During this bite-size webinar, experienced lecturer John Thurston will provide viewers with an overview of the new income tax rules and an assessment of the impact which this is likely to have on private client practice, ensuring that you are up to speed in a position to provide your clients with accurate, informed advice.

Topics

• Income tax
• Death estate - Income tax
• Income arising before death
• Personal allowances
• How do you distinguish between income of the deceased and income of the estate?
• The administration period
• Taxation of beneficiaries
• Relief for income accrued to the date of death
• Tax deduction certificates
• Trusts - Income tax
• Where there is a beneficiary entitled to the income
• Capital payments taxed as income
• Accumulation and discretionary trusts
• First slice of trust income
• Trust management expense and the special rate applicable to trusts
• Income/capital
• The tax pool
• The 45/38.1% problem
• Trusts for vulnerable persons
• Anti avoidance rules
• Deeds of variation
• Accrued income