Introduction to Inheritance Tax

In addition to your class tuition and study materials, you will receive the following:


Exercises

• Worked examples showing the effects of lifetime gifts, reliefs and
• allowances on the inheritance tax calculation.

Other Extras

• Worked examples showing the effects of lifetime gifts, reliefs and
  
• allowances on the inheritance tax calculation.
  
• Certificate of attendance

Level: Introductory


Synopsis:
Inheritance tax is a hot topic with there being immense amounts of pressure on the government to raise the nil rate band.This introductory level course will cover the main rules of inheritance tax and any recent updates and proposals. Comprehensive case studies will also be covered to consolidate knowledge and show application.


At the end of the course participants will be able to: Identify the importance of resident and domicile regarding inheritance tax . Identify the main exemptions and reliefs . Identify the effects of lifetime gifts . Be aware of the IHT charges surrounding trusts .


Prerequisites:
None - assumes no knowledge of inheritance tax


Suitable For:
Accountants, solicitors, financial advisors and private wealth managers


Introduction

• What is inheritance tax?
• Who it applies to
• Residence and domicile status 91 day rule and 183 day rule

Exemptions and reliefs

• Zero rate band
• Annual gift allowances
• Transfers between spouses or civil partners

Life time transfers

• Chargeable lifetime transfers
• Potentially exempt transfers

Trusts

• Implications of different types of trusts and the inheritance tax attached to them