Inheritance Tax: Lifetime Transfers and the Death Estate 2023-24

A comprehensive guide to all the issues faced in preparing lifetime transfer calculations, calculating the death estate and any related inheritance tax due, and advising clients on the associated inheritance tax issues.

Written in clear, concise language, the book is easy to understand by both seasoned practitioners and those new to the tax. The text is peppered with practical, understandable and relevant examples, and is fully cross referenced to the inheritance tax legislation, HMRC guidance and case law. Essential reading for accountants, solicitors, probate practitioners, drafters of wills, and anyone needing detailed and practical commentary on the law applying to inheritance tax.

The book is structured in the same order as a complex death estate would need to be approached; the lifetime gifting considered first, and then the death estate. In both sections, valuation issues, exemptions and reliefs and other complications are succinctly covered. Extended examples show the practical application of the more complicated issues and areas. Most chapters conclude with a section on pitfalls and practical, realistic tax planning opportunities.

New for this edition:

• case law re investment or trading
• pitfall re cumulative transfers to spouses or civil partners
• extension of freeze of residence nil-rate band
• official rate of interest changes
• family investment companies – commentary updated re statutory changes
• changes to interest rates for late payments and for repayments