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The Taxation of Trusts recommended reading for CII and IFP examinations


Trusts are very much part of financial advice. They may be needed for tax planning or they may be needed to enable a family member to control who gets what at a later date.

The creation of most trusts is now a “Chargeable Lifetime Transfer” which has an immediate impact on both the transaction itself as well as an impact on all future trusts. This guide is designed to help you to avoid the major pitfalls when advising your clients – without a proper understanding of the taxation of trusts there is a lot of scope to get things badly wrong.

This guide essential for anyone preparing for the J02, R03 or AF1 CII examinations. It may also be of assistance with personal taxation exams including the IFP Certified Financial Planner or Fellowship exams.

The guide first sets the scene of what a trust is and then moves on to the taxation implications of various trusts. The guide then relates the taxation of trusts to the act of creating a trust, the likely liabilities during the running of a trust and finally the tax implications of capital leaving a trust.

We strongly recommend that you buy the IHT calculations guide alongside this guide. Both of these guides are part of our Tax and Trusts Suite.

The contents of this guide include:

  • Universal trust basics
  • Taxation of interest in possession trusts
  • Taxation effect of life tenant (pre 22.03.06 trusts)
  • The extended “relevant property” regime
  • Taxation of discretionary trusts
  • IHT periodic and exit charges
  • CGT holdover elections
  • Taxation of Accumulation and Maintenance (A&M) trusts
  • A&M trusts with no prior right to income
  • Bare trusts

We estimate that this individual guide takes approximately 10 hours of personal study

Title: Taxation of Trusts
Author: Sarah Dingley-Brown
Pages: 126
RRP: £35.00 Click Here To Buy Your Copy Now
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