Deadline: Annual reporting for employee share and share option plans by 6 July 2021 … Read more
As well as the devastating loss of loved ones, COVID-19 has led to a fall in the value of assets, which may lead to excessive Inheritance Tax (IHT) liabilities. … Read more
We'll explain the HMRC consultation and provide guidance on how businesses should respond. … Read more
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enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
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.
