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Tax Law
Tax & Planning
CPD Points:
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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
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  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast aims to summarise the application of the capital gains tax rules that apply to UK based trusts. It will look at when a CGT tax arises on a 'disposal' relevant to both IIP and discretionary trusts, what allowances are available and why a sub-fund election might be appropriate as a means to avoid the anti-Bed & Breakfasting Rules. The podcast will also address when trust assets might benefit from a tax free uplift in their value and how hold over relief applies to trusts.

After completing the course you will:
  • Understand how a capital gains tax charge arises;
  • Be able to identify when a disposal and deemed disposal occurs;
  • Understand how CGT is charges against trusts and trustees following the June 2010 Budget;
  • Be aware of the justifications for and issues surrounding sub-fund election;
  • Know when a trust is likely to benefit from a tax free uplift in the value of the trust assets;
  • Understand how holdover relief operates, particularly with regard to trusts that are or become 'settlor-interested'.
Complex Difficulty: 4 of 5
Legal Principles
Sources and References:
  • Taxation of Chargeable Gains 1992 ss 65(4), 69A, 71E-G, 72 144, 165, 260, Sch 4ZA;
  • Stephenson v Barclays Bank Trust Company Ltd [1975] 1 All ER 625.

In this podcast, James Sheedy looks that the capital gains tax (CGT) treatment of UK based trusts.

This podcast is one of a pair on the taxation of UK trusts. To find out about IHT and trusts, click here: Introduction to the Taxation of Trusts - Inheritance Tax

Podcast added: 11/08/10

Podcast last reviewed: 2011-05-31

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