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Private Client Law Refresher Course – CGT, Income Tax & SDLT

E-learning

This live session will run on 18 November 2021.

Click start to access the welcome page, this is where you will find the links to join the sessions.


Please note that this session will be recorded. the recording will be made available within a week after the session.




Course Description

Overview

  • 2 hours
  • Intermediate
This live virtual classroom is scheduled on 18 November 2021, between 10:30-12:30.Delivered by renowned expert in the field Professor Lesley King, this course will provide an update in CGT, income tax & SDLT law and practice. It is suitable if you are considering returning to this area of law following a career break or currently work within private client law and wish to update your knowledge in certain areas.This virtual classroom is one in a series of seven for individuals across all levels of PQE who are seeking to update their knowledge of private client law. The other sessions can be booked through this link.  On-demand versions will be available after each event for those who cannot attend on the day or who wish to purchase after the event has taken place.

Learning outcomes

After this session you will be aware of the recent changes affecting estates and trusts and be able to:

  • advise appropriately on the treatment and calculation of CGT and income tax for PRs, trustees and beneficiaries
  • identify opportunities to save tax
  • identify SDLT issues and advise PRs, trustees and beneficiaries appropriately.

What this will cover

SIMPLE & COMPLEX ESTATES

  • Why does it matter?
  • What is a complex estate
  • How to avoid becoming complex

CGT DURING THE ADMINISTRATION PERIOD

  • Exemptions and rates
  • What is “market value”?
  • tax savings from appropriations including evidence of appropriation and HMRC’s definition of when residue is ascertained
  • Charities and CGT: importance of appropriations
  • Value at which assets are appropriated between beneficiaries

ACCELERATED PAYMENT OF CGT ON DISPOSALS OF UK RESIDENTIAL LAND

  • The new rules
  • The payment process for PRs

INCOME TAX DURING THE ADMINISTRATION PERIOD

  • Rates and allowances for PRs
  • Special rules for ISAs
  • Tax treatment of income of beneficiaries
  • R185

INCOME TAX & CGT FOR TRUSTS

  • CGT on actual and deemed disposals
  • CGT holdover relief
  • Different income tax regimes applying to trusts with and without a right to income
  • Benefits of the right to income regime

WHEN IS SDLT AN ISSUE FOR PRIVATE CLIENT PRACTITIONERS?

  • When is SDLT payable?
  • May be relevant when distributing to beneficiaries
  • Problems for trustees and beneficiaries of trusts