Course Details

Inheritance Tax (IHT) planning is all about protecting and preserving wealth, maximising tax efficiency to minimise liabilities and ensuring that any loved ones are catered for in line with a person’s wishes. With IHT receipts hitting an all-time high this year, clearly more and more individuals are being brought within scope of the charge, and so the importance of considered planning for everyone is only compounded. As accountants and advisers, your clients are relying on you to advise them on the various strategies that can help them to manage their estate, over the course of their lifetime, to reduce any liability to Inheritance Tax in the future. 


This course will provide you with an overview of the most common strategies that can be used to reduce IHT bills and, in particular, will look in some detail at the use of Trusts. We will consider the different types of Trust that exist, the tax implications of establishing a Trust, what setting up a Trust entails and how to determine whether a Trust might be suitable for your client.

 

In this course, Barry Jefferd discusses the importance of proactive Inheritance Tax planning with a focus on the use of Trusts as a strategy to reduce liability to the charge. Beyond this, we will touch upon some of the other ways in which individuals can minimise their exposure to IHT and our role in identifying appropriate solutions for clients.

 

The following key areas are covered:

  • The importance of proactive, but careful Inheritance Tax planning for everyone
  • Common Inheritance Tax planning strategies, use of reliefs, and how these can be employed over the course of an individual’s lifetime, and on death
  • The use of Trusts to minimise exposure to Inheritance Tax liabilities, including types of Trust, establishing a Trust, and the associated tax implications
  • Our role as advisers in respect of Inheritance Tax planning
  • How to determine whether a Trust is the right strategy for your client

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CPD Course Speaker

George Hay Chartered Accountants

Barry Jefferd

Barry Jefferd is the Taxation Partner at George Hay Chartered Accountants. He is a Chartered Accountant, Chartered Tax Adviser and member of the Society of Trust and Estate Practitioners.

He advises on the complete range of taxes, with a particular interest in Capital Gains Tax, Inheritance Tax, and property and land transactions. Barry lectures widely on taxation on behalf of Taxation Institutes who are providing training for other professionals and is the co-author of two publications; Tax planning, a joint publication between the UK200 Group and the Daily Telegraph, and the Innovation Handbook, endorsed by the Intellectual Property Office.

He is an expert in Share and Business Valuations and has appeared in both the High and County Courts as an expert witness. Barry was also one of the first accountants in the country to pass the Institute of Chartered Accountants in England and Wales’ probate qualification. He is now director of GH Probate Ltd, our company providing probate services, and also a director of GH Wills Ltd, our company providing Will writing services.

As well as his services to clients, Barry offers a tax consultancy service for smaller practices throughout the UK, as well as advising on one off tax problems for other accountants and taxpayers.

He is currently Vice President of the Association of Tax Technicians (ATT), the country’s leading professional body dealing with tax compliance.