Making Tax Digital Updated VAT Notice published … Read more
Reassuring your employees through Brexit anxiety … Read more
An introduction to charity VATJoin us for our dedicated charity VAT event where we will go over the basics of charity VAT and how to apply them in practice. … Read more
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For an estate of a US citizen or domicile who makes taxable gifts or passes away in calendar year 2018, the basic exclusion amount is $11,180,000 for determining the amount of credit against Estate or Gift Tax. This creates opportunities for more gifting / estate planning going forward. Remember that gifts to US charitable trusts could be deemed to be a settlement for UK tax purposes, assuming the settlor is considered UK domiciled or deemed domiciled. Please speak to us if you would like advice on having US/UK tax relief on charitable contributions and avoiding any UK Inheritance Tax on a settlement into trust.
There could be potential tax efficient gifts that could be considered before year-end. For example, you could make a gift of up to $15,000, per donee, per donor and not use up the current $11.18M estate tax threshold.
