Transcription of CHAPTER 6 EXIT CHARGES ON RELEVANT …
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CHAPTER 6 EXIT CHARGES ON RELEVANT …
Tolley Exam TrainingTRUSTS AND ESTATES TAX CHAPTER 6 Reed Elsevier UK Ltd 201355FA 2013 CHAPTER 6 exit CHARGES ON RELEVANT property TRUSTSIn this CHAPTER you will learn about exit CHARGES on RELEVANT property trusts, covering in particular: The type of IHT CHARGES ; Commencement of a trust ; The definitions of RELEVANT property and a related trust ; When exit CHARGES arise; How to calculate an exit charge; Finding the initial value of a trust ; Who pays the tax on an exit and when; Interaction with APR and principlesThere are two broad categories of trusts, discretionary trusts and interest in possession a discretionary trust arrangement, Trustees have absolute discretion as to how to distribute the income and capital of the trust , and normally have a power to accumulate income within the trust .
Tolley® Exam Training TRUSTS AND ESTATES TAX CHAPTER 6 © Reed Elsevier UK Ltd 2013 55 FA 2013 CHAPTER 6 EXIT CHARGES ON RELEVANT PROPERTY TRUSTS
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