Taxation of UK trusts: overview

Resource type: Practice note: overview

Status: Maintained

Jurisdiction: United Kingdom

An overview of the taxation of UK resident trusts set up by UK individuals. The note outlines how inheritance tax, capital gains tax and income tax apply to trusts, including special rules for trusts from which the settlor may benefit and trusts for vulnerable beneficiaries. It deals briefly with stamp taxes. There are links to more detailed information, including information about specific taxes.

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Resource ID: 0-383-6634
Products: PLC UK Private Client
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Topics

TrustsTrusts (http://finance.practicallaw.com/0-383-2283)
WillsWills (http://finance.practicallaw.com/6-383-2275)

Practice note: overview

Capital gains tax: principal private residence relief: overview Capital gains tax: principal private residence relief: overview (http://uk.practicallaw.com/topic8-385-5925)
Creating a trust: overview Creating a trust: overview (http://uk.practicallaw.com/topic8-383-6729)
Ending a trust: overview Ending a trust: overview (http://uk.practicallaw.com/topic2-383-8038)
Exercising powers of appointment, advancement and transfer: overview Exercising powers of appointment, advancement and transfer: overview (http://uk.practicallaw.com/topic4-386-2471)
Inheritance tax: overview Inheritance tax: overview (http://uk.practicallaw.com/topic3-383-5652)
Taxation of offshore trusts: overview Taxation of offshore trusts: overview (http://uk.practicallaw.com/topic5-383-6759)

Practice notes

Direct taxes Direct taxes (http://uk.practicallaw.com/topic5-107-3724)
Exercising powers of appointment, advancement and transfer: is there a resettlement? Exercising powers of appointment, advancement and transfer: is there a resettlement? (http://uk.practicallaw.com/topic8-386-2469)
Income tax: general principles Income tax: general principles (http://uk.practicallaw.com/topic0-385-1243)
Inheritance tax: relevant property trusts: calculating the charge to tax Inheritance tax: relevant property trusts: calculating the charge to tax (http://uk.practicallaw.com/topic3-509-2936)
Inheritance tax: relevant property trusts: effect of APR and BPR on calculation of tax Inheritance tax: relevant property trusts: effect of APR and BPR on calculation of tax (http://uk.practicallaw.com/topic1-518-4395)
Inheritance tax: relevant property trusts: effect of death of settlor on calculation of tax Inheritance tax: relevant property trusts: effect of death of settlor on calculation of tax (http://uk.practicallaw.com/topic2-518-4837)
Inheritance tax: relevant property trusts: key concepts Inheritance tax: relevant property trusts: key concepts (http://uk.practicallaw.com/topic2-518-0740)
Interest rates Interest rates (http://uk.practicallaw.com/topic1-385-3996)
Tax data for individuals and trustees Tax data for individuals and trustees (http://uk.practicallaw.com/topic9-383-4112)
Tax on chargeable gains: general principles Tax on chargeable gains: general principles (http://uk.practicallaw.com/topic1-205-7008)
Taxation of UK trusts: capital gains tax Taxation of UK trusts: capital gains tax (http://uk.practicallaw.com/topic2-521-7098)
Taxation of UK trusts: IHT and CGT summary tables Taxation of UK trusts: IHT and CGT summary tables (http://uk.practicallaw.com/topic7-383-6635)
Taxation of UK trusts: income tax Taxation of UK trusts: income tax (http://uk.practicallaw.com/topic8-521-7137)
Taxation of UK trusts: inheritance tax Taxation of UK trusts: inheritance tax (http://uk.practicallaw.com/topic3-521-6946)
When to submit inheritance tax account IHT100 When to submit inheritance tax account IHT100 (http://uk.practicallaw.com/topic9-500-6040)

External resource

Frankland v Commissioners of Inland Revenue [1997] EWCA Civ 2674 Frankland v Commissioners of Inland Revenue [1997] EWCA Civ 2674 (http://uk.practicallaw.com/topic7-500-1190)

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