Buzzacott has been named as a finalist in the Citywealth Brand Management & Reputation Awards 2019 … Read more
Across London, many businesses are hitting cash flow challenges they are unsure of how to tackle. Perhaps counter-intuitively, investing more cash in your business is one way to turn negative cash flow on its head. … Read more
Event: We provide advice in how best to tackle issues post Brexit that specifically relate to the hospitality industry … Read more
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enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
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.
