Blog Archives

Lifetime Gifting: Gifts with international elements

When considering making lifetime gifts, international elements can complicate matters. The international dimension may arise because you have assets in foreign jurisdictions or because you are resident or otherwise subject to tax in another country.  In such circumstances, it is crucial …

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What are the tax implications of being the Bank of Mum and Dad?

My husband has recently retired and we are ready to plan the next stage of our lives. Our first decision is to sell our historic but rambling country home and downsize to something more manageable. Once we have bought a …

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US tax changes could be imminent

The US House Committee on Ways and Means has proposed a raft of US tax changes intended to help fund the new administration’s grand infrastructure programme. Contained within the proposals are significant changes to some key estate planning tools that …

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Lifetime giving: The Giving Pledge – what is it, and what should British philanthropists keep in mind?

Founded in 2010 by a group of ultra-wealthy individuals (including Bill and Melinda Gates and Warren Buffet), the Giving Pledge invites other wealthy people to publicly commit to giving away the majority of their wealth to philanthropy. Initially a purely …

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Lifetime giving: Can I give my home to my children (and still live in it)?

For many people, their home is one of their most valuable assets, if not the most valuable. It is therefore an obvious candidate for lifetime estate planning. The question therefore often comes us as to whether it is possible for …

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Lifetime giving: how to efficiently gift business assets

For certain individuals, business assets can form a significant portion of their wealth and so considering how those assets might be passed to the next generation often forms a key part of their estate plan. Business assets can benefit from …

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Lifetime Giving: US/UK giving

Considering the UK tax rules on lifetime gifts can be complex, but having to marry these with the corresponding US rules if the donor and/or recipient are also US taxpayers can make the task yet more difficult. A donor can …

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How women can prepare for their greater exposure to IHT

Given that women on average live longer than men, it is more likely that women will inherit significant wealth from their spouses and other family members than their male counterparts. As a result, a recent study states that women have …

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Lifetime Giving | Trusts and School Fees

Many families contend with paying school fees running into hundreds of thousands of pounds per child over the course of their education. This guide examines some tax efficient arrangements that other family members (typically grandparents) can use to contribute to …

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Lifetime Giving: Gifting in the Arts (CGS v AIL)

The Arts Council England saw a record-breaking year in 2020 with the value of cultural objects and art entering public ownership equating to an impressive £64.5 million with £40 million of tax liabilities being settled in return. Philanthropic giving of …

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