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Foundations for the LPC 2020-2021

Foundations for the LPC 2020-2021 (24th edn)

Clare Firth, Elizabeth Smart, Lucy Crompton, Helen Fox, Frances Seabridge, Susan Wigglesworth, and Jennifer Seymour
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date: 25 September 2022

p. 15811. Taxation of trusts and settlementslocked

p. 15811. Taxation of trusts and settlementslocked

  • Jennifer Seymour, Jennifer SeymourTeaching Associate in Legal Practice, University of Sheffield
  • Clare Firth, Clare FirthSenior Lecturer in Legal Practice, University of Sheffield
  • Lucy Crompton, Lucy CromptonFreelance Legal Academic
  • Helen Fox,
  • Frances Seabridge, Frances SeabridgeTeaching Fellow in Law at Aston University
  • Susan Wigglesworth
  •  and Elizabeth SmartElizabeth SmartHead of Law, Sheffield Hallam University

Abstract

Settlements may be created by settlors in their lifetime, or by will, or they may arise under the intestacy rules. This chapter considers the tax implications of such settlements from the perspective of both the trustees and the beneficiaries. It considers each of the three main taxes separately: inheritance tax, capital gains tax, and income tax.

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