Inheritance Tax Planning: Combating the Nil Rate Band Ice Age (April 23)
Category: Tax | Duration: 2hrs | Tag: VODUKSPTX2301 | Type: Video | Speaker: Carl Bayley | Date: 18/04/2023 10:00
Course Details
The Inheritance Tax Nil Rate Band has been frozen at its 2009 level until 2028, a total of 19 years, the longest freeze since 1946. Its value in real terms has fallen drastically, and will fall still further over the next five years. Against this background, your clients will be getting increasingly worried about what this means for their families and their businesses. You will often be their first port of call when they look for help. So, even if you don’t expect to become an expert in this area, you need to be ready for their questions so you can point them in the right direction.
In this session, Carl Bayley covers:
- Inheritance Tax basics and the reliefs and exemptions available
- Business property relief and agricultural property relief: how to make sure you don’t lose them and how to maximise their value
- Planning for the family home: when is it still necessary now we have the residence nil rate band, and what methods remain available
- How to protect property businesses from Inheritance Tax, including using simple transfers, trusts, family debt schemes, and family investment companies
- The key interactions between Inheritance Tax and Capital Gains Tax explored: when is it better to ‘pay now save later’ and when is it better to ‘hold them ‘til you drop’
- Deathbed planning: what can still be done and how much could it save?
CPD Course Speaker
BSc FCA, Author and Presenter
Carl Bayley
Carl Bayley is the author of a series of ‘Plain English’ tax guides designed specifically for the layman and the non-specialist. His particular specialty is his ability to take the weird, complex, and inexplicable world of taxation and set it out in the kind of clear, straightforward language taxpayers themselves can understand.
Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.
Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.