IHT & Trusts - The New Landscape for Private Client Professionals

Introduction

This new virtual classroom seminar will look in detail at the new residence-based system of taxation for inheritance tax purposes.

It will cover the long-term residence rules for individuals and the impact that this will have on both UK and offshore trusts.

There will be a detailed look at the grandfathering rules introduced for trusts created pre-30 October 2024.

The session will also cover the intricacies of the UK's ten IHT double taxation treaties, looking at each of them and highlighting some of the unexpected results that can arise depending on individual facts.

What You Will Learn

This live and interactive course will cover the following:

• The mechanics of the new long-term residence (‘LTR’) rules
• The impact of a settlor's LTR status for both UK and offshore trusts
• The new trust 'exit' tax
• Particular issues for relevant property trusts and qualifying interest in possession settlements
• Offshore trusts and interaction with the gift with reservation of benefit rules
• Grandfathering rules for pre-30 October 2024 settlements
• Why domicile status will still be relevant to the tax position of some individuals
• IHT double taxation treaties - the 'old' and 'new' treaties

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.