Inheritance Tax
This course is an introduction to UK Inheritance Tax and includes the treatment of potentially exempt transfers, agricultural and business property relief as well as the use of trusts.
£150 +VAT
Inheritance Tax
£150 +VAT
365 days’ access
This course will enable you to
- Establish whether an estate is subject to Inheritance Tax
- Calculate the scale of the tax likely to be payable
- Understand the primary reliefs available
- Identify common planning steps to alleviate the tax exposure
About the course
As an accountant, your role in inheritance tax (IHT) is the strategic structuring of a client’s wealth and business interests. However, this can be complicated, not only because IHT has a language all of its own but because there is a lot to get to grips with. From IHT liability and property reliefs, to further planning opportunities using trusts. There is a lot you will need to know to guide your clients.
In this course, you will get an introduction to UK inheritance tax, and the various issues surrounding it. This includes the treatment of potentially exempt transfers, the ways in which agricultural property relief and business property relief can be maximised, and the use of trusts. You will also be learning about the various exemptions from inheritance tax, and how the seven-year waiting time can affect this.
Please Note: This course only covers UK tax law
Contents
IHT scope
Inheritance Tax: the basics
Key vocabulary
Long-term resident
What is domicile?
Assets subject to IHT
PETs
The residence nil rate band
Property relief
The main types of relief
Agricultural property
AR rates
Business relief
BR rates
Other reliefs and opportunities
Charity and other reliefs
Gifts to charities
Gifts exempt from IHT
Gifts of income
Tax preferred investments
Trusts
Using trusts for IHT
What is a trust?
Transfers made to trusts
Trusts and IHT planning
CGT holdover relief
Flexible spouse trusts
Author
Andrew Law
Andrew Law has been in professional tax practice for over 30 years advising SME business on taxation matters and has advised on the sale and purchase of numerous businesses of all kinds and sizes.
22 reviews for Inheritance Tax
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Colin Matthissen –
Good course, thank you.
Mireia Corredor Marcos –
Comprehensive and high quality course. Thank you for the good job!
Kozan Balci –
Very well explained and summarised
Judith Barnard –
Overall it was an informative course. I was particularly interested in the trusts part and would have liked to have seen more on how trusts (CLTs) and PETs interact with each other and a mention of the 14-year rule. More complex examples would have been good too.
Mandy Shelford –
alot of content – if this is something of big interest i suggest doing a longer course but alround enjoyed the course and content supplied generally easy to understand
Victoria Hearsey –
A good basic grounding in Trusts. Some of the more advanced areas of calculation – eg 10 year charges, could do with a little more detail.
Bennett Ene –
Very useful update on IHT that will be utilised to advise clients on the best ways to mitigate liabilities and protect their estate
Trevor Parker –
Good refresher.
Amanda Jackson –
Maybe a few more videos
Dan Mason –
Very informative
Lisa Heard –
Very well presented, good examples. Liked the mini test at end of each module
Gee Lim –
very good
Michele Herzog –
I felt that i needed a little more depth. More calculations on how to assess the tax amounts on trusts etc and calculations on IHT payable on PETS that are chargeable under 7 years
Robert Willis –
James Haddow –
Gave me a good grounding to understand IHT
Julie Cazzol –
Sheryl-Ann Belnavis –
I have a much better understanding of IHT now
Sheena Horan –
Lisa Creagh –
it refreshed my knowledge on inheritance tax
Paul Harmer –
Catherine Linsey –
Very limited content and information, too many vague generalisations and confusion, and insufficient useful examples
Denis Fleming –
Refreshed my memory