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Quick reference taxation guides

In this section, you will find our latest available quick reference guides all in one place.

Bond taxation

    • Taxation of Investment Bonds quick reference guide 1 - Who is assessable?

      This flowchart will enable you to identify the party who will be taxable for chargeable event gains for an Onshore or Offshore investment bond. This guide is not suitable for investment bonds held by companies.

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    • Taxation of Investment Bonds quick reference guide 2 - Partial Withdrawals

      This guide will provide you with an understanding of excess gains caused by partial withdrawals from onshore or offshore investment bonds. This guide is not suitable for investment bonds held by companies.

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    • Taxation of investment bonds quick reference guide 3 - Individual policy (segment) surrenders

      This guide will provide you with an understanding of individual policy surrenders for Onshore or Offshore investment bonds. This guide is not suitable for investment bonds held by companies.

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    • Taxation of investment bonds quick reference guide 4 - full bond surrenders

      This guide will provide you with an understanding of full bond surrenders for Onshore or Offshore investment bonds. This guide is not suitable for investment bonds held by companies.

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    • Taxation of investment bonds quick reference guide 5 – Top slicing relief

      This guide will provide you with an understanding of top slicing relief for Onshore or Offshore investment bonds.

      This guide is not suitable for investment bonds held by companies.

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    • Taxation of investment bonds quick reference guide 6 – Time Apportionment Relief

      This guide will provide you with an understanding of time apportionment relief for Onshore and Offshore investment bonds.

      This guide is not suitable for investment bonds held by companies.

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    • Taxation of investment bonds quick reference guide 7 – Multiple Chargeable Events in the Same Tax Year

      This guide will provide you with an understanding of how multiple gains from Onshore and/or Offshore investment bonds in the same tax are treated for income tax purposes. This guide is not suitable for investment bonds held by companies.

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Discretionary trust taxation

    • Taxation of discretionary trusts holding pure protection policies

      This guide will provide you with the information you require to advise your clients on the tax treatment of their life assurance/pure protection policy when subject to a discretionary trust.

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    • Quick reference guide 1 – Entry Charge (Chargeable Lifetime Transfers)

      This guide will provide you with the information you require to advise your clients of any tax due on a gift or number of gifts into relevant property trusts (discretionary trusts and other flexible trusts created since 22 March 2006). This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to entry charges.

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    • Quick reference guide 2 – Periodic Charge (10 year charge or Principle Charge)

      This guide will provide you with the calculation steps to enable you to advise trustees of any tax due on their trust along with reporting requirements. It also outlines the Inheritance Tax (IHT) treatment of types of trusts/planning solutions in relation to the periodic charge. This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to a periodic charge.

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    • Quick reference guide 3 – Exit charge (Proportionate Charge)

      This guide will provide you with the information you require to advise your clients of any tax due on distributions from relevant property trusts (discretionary trusts and other flexible trusts created since 22 March 2006). This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to exit charges.

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Inheritance tax

    • Inheritance tax - Normal expenditure out of income - Quick reference guide

      This guide will provide you with the information you require to advise your clients on the normal expenditure out of income Inheritance Tax (IHT) exemption. This is a useful exemption which can avoid having to wait for seven years for a gift to fall outside of the estate for IHT purposes.

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    • The order of gifting and 14-year rule: quick reference guide

      This quick reference guide provides information on how the order in which donors make Potentially Exempt Transfers and Chargeable Lifetime Transfers can affect the amount of inheritance tax (IHT) payable on their death.

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    • Quick reference guide 1 – Main provisions (overview)

      Part 1 of this guide will provide you with the information you require to advise your clients on the Residence Nil Rate Band (RNRB). This additional nil rate band can provide extra protection for families looking to pass the family home to future generations. Part 2 covers the downsizing provisions available where property which once qualified for the RNRB has been sold or given away.

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    • Quick reference guide 2 – Downsizing provisions

      This guide will provide you with the information you require to advise your clients on the Residence Nil Rate Band (RNRB) downsizing provisions. These provisions look to protect the availability of the additional nil rate band where someone has sold their home, given it away or downsized to a less valuable home. More details on the RNRB can be found within part 1 of this quick reference guide.

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Income tax

    • Taxation of Savings and Dividends - A Summary with Examples

      This guide will provide you with a general overview of the use of the allowances and bands available to UK Income tax payers. The examples demonstrate how they interact with each other and the order of taxation. The availability of the allowances and bands demonstrated here will depend on the individual’s personal circumstances.

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