Inheritance tax and excluded property added to and transferred between trusts: draft Finance Bill 2019-20, ICAEW REP 90/19, 5th September 2019

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In Folder: ICAEW Representations, 2019

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Inheritance tax and excluded property added to and transferred between trusts: draft Finance Bill 2019-20, ICAEW REP 90/19, 5th September 2019

ICAEW Tax Faculty response to HMRC's draft Finance Bill 2019-20 legislation on inheritance tax treatment of excluded property added to and transferred between trusts. Highlights concerns including lack of consultation paper, timing issues, multiple uses of the term 'property', and risks of accidental tainting of excluded property trusts; proposes a proportional approach to mixed property and references equitable tracing case law; recommends delaying the proposals for 12 months and includes the Tax Faculty's ten tenets for a better tax system in an appendix. (AI generated description)

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title: Inheritance tax and excluded property added to and transferred between trusts: draft Finance Bill 2019-20, ICAEW REP 90/19, 5th September 2019

creator: Tax Faculty

creator: ICAEW

subject: Taxation

subject: IHT

subject: Property taxation

description: ICAEW Tax Faculty response to HMRC's draft Finance Bill 2019-20 legislation on inheritance tax treatment of excluded property added to and transferred between trusts. Highlights concerns including lack of consultation paper, timing issues, multiple uses of the term 'property', and risks of accidental tainting of excluded property trusts; proposes a proportional approach to mixed property and references equitable tracing case law; recommends delaying the proposals for 12 months and includes the Tax Faculty's ten tenets for a better tax system in an appendix. (AI generated description)

publisher: ICAEW

contributor:

date: 2019-09-05

type: Text

format: pdf

identifier: ICAEW REP 90/19

language: en

relation: ICAEW Representation

ICAEW Metadata

Content Type: Representation

Notes: MEP NK

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