The Taxation of Gifts and Inheritances, Finance Act 2024
- PART 1
- Chapter 7 Exemptions
- 7.1 Introduction
- 7.2 Small Gifts
- 7.3 Spouses and Civil Partners
- 7.4 Relief in Respect of Certain Policies of Insurance
- 7.5 Relief in Respect of Certain Policies of Insurance Relating to Tax Payable on Gifts
- 7.6 Exemption of Certain Policies of Insurance
- 7.7 Exemption of Specified Collective Investment Undertakings
- 7.8 Provisions Relating to Charities etc
- 7.9 Exemption of Heritage Property
- 7.10 Heritage Property of Companies
- 7.11 Exemption of Certain Inheritances Taken by a Parent
- 7.12 Payments Relating to Retirement etc
- 7.13 Exemption of Certain Securities
- 7.14 Exemption of Certain Receipts
- 7.15 Disposition made by the Donee/Successor
- 7.16 Associated Companies
- 7.17 Qualifying Expenses of Incapacitated Persons
- 7.18 Retirement Benefits
- 7.19 Dwelling-house Exemption
- 7.20 Benefits Free from Tax
- Chapter 8 Reliefs
- 8.1 Introduction
- 8.2 Agricultural Relief
- 8.3 Business Relief
- 8.4 Relief from Double Aggregation
- 8.5 Allowance for Prior Tax on the Same Event
- 8.6 Allowance for Capital Gains Tax Paid on the Same Event
- 8.7 Favourite Niece/Nephew Relief
- 8.8 Surviving Spouse/Civil Partner Relief
- 8.9 Minor Child of a Deceased Child
- 8.10 Inheritances Taken by Parents
- 8.11 Certain marriage settlements
- 8.12 Benefits taken by foster children
- 8.13 Benefits received by adopted children from natural parents
- 8.14 Revenue enquiries time-frame
- Chapter 12 Probate and Administering a Deceased’s Estate
- 12.1 Introduction
- 12.2 Personal Representative
- 12.3 Devolution of the Deceased’s Assets
- 12.4 Grant of Probate or Letters of Administration
- 12.5 Statement of Affairs (Probate) (replaces the Inland Revenue Affidavit)
- 12.6 Requirement to Prepare Estate Accounts
- 12.7 Requirement to File Tax Returns
- 12.8 Taxation of Beneficiaries
- 12.9 Is there a Need for a Foreign Grant?
- Chapter 13 Anti-Avoidance and Miscellaneous Provisions
- 13.1 Introduction
- 13.2 Connected Gifts/Gift Splitting
- 13.3 Dispositions Enlarging the Value of Property
- 13.4 Dispositions by or to a Company
- 13.5 Arrangements Reducing the Value of Company Shares
- 13.6 General Anti-Avoidance
- 13.7 Mandatory Reporting of Certain Transactions
- 13.8 Revocable Gifts
- 13.9 CAT and Section 98 Succession Act 1965
- 13.10 Life Assurance
- Part 2
- Chapter 15 Payment and Recovery of Tax, Interest, Surcharges and Penalties
- 15.1 Introduction
- 15.2 Payment of Tax and Interest
- 15.3 Surcharges
- 15.4 Recovery of Gift and Inheritance Taxes Inter-Country
- 15.5 Overpayment of Tax
- 15.6 Penalties
- 15.7 Certificate Relating to Registration of Title
- 15.8 Money Held in Joint Accounts
- 15.9 Court Proceedings
- 15.10 Delivery of Notices and Forms
- Chapter 17 Governing the Family Business – Rules of the Road
- 17.1 Introduction
- 17.2 What is the Purpose of a Family Governance Structure
- 17.3 Degrees of Change Facing the Family Business
- 17.4 Establishing a Family Business Structure
- 17.5 The Frameworks of Family Business Governance
- 17.6 The Family Meeting
- 17.7 The Family Council
- 17.8 The Company Board
- 17.9 Family Constitution
- 17.10 Shareholder Agreements
- 17.11 Framework/Outcomes
- 17.12 The Family Office