Course description
There are specific rules and procedures for inheritance tax in both 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 introductory level live broadcast session 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.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
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 introductory level live broadcast session 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 session 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 BPR and APR
- 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
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...