Succession Taxes


The Chartered Institute of Taxation (CIOT) responds to the draft legislation regarding inheritance tax and excluded property added to and transferred between trusts.

The CIOT comments on the HMT consultation on Transposition of the Fifth Money Laundering Directive.

The CIOT comments on the the HMRC consultation The Taxation of Trusts: A Review.

The CIOT response to the HMRC call for evidence on Amendments to Tax Returns.

A new report has called for national insurance for pensioners, replacing council tax with a tax based more closely on property values, halving SDLT and replacing inheritance tax with a lifetime receipts tax.

Late on 15 January we received the update below from HMRC.  We will continue to provide updates as matters progress.

HMRC hosted a Talking Points Webinar on 17 November 2017.

The controversial subject of how to tax inherited wealth was the subject of a lively CIOT/Institute for Fiscal Studies debate at the RSA which treated its guests to a history of inheritance tax and a comparison to the system used on the other side of the Irish Sea. An audio recording of the debate is available below.

The CIOT comments sent to HMRC on FB17-19 Deemed domicile: Income and Capital Gains Tax.

The CIOT comments sent to HMRC on Offshore trusts: anti-avoidance consultative clauses and schedule.