Surplus income gifting

Описание: In this webinar, our speakers Catriona Attride and Grace Endley discuss strategies for inheritance tax (IHT) planning, focusing on the often-overlooked exemption for gifts made from surplus income. This significant element of estate planning has gained prominence, particularly following the autumn budget.

In this session, you will gain an understanding of:
⦁ The meaning of surplus income and precise methods for its calculation
⦁ Gifting out of surplus income rules - the three key conditions your gifts must meet
⦁ Establishing a pattern for gifts out of normal expenditure, considering frequency, amounts, and reasons
⦁ The critical role of record-keeping, including the IHT 403 form for claiming the exemption on death and the IHT100 form for lifetime trust transfers
⦁ Gifting options: from outright gifts to use of a bare trust vs discretionary trust for beneficiary protection and flexibility
⦁ Practical considerations such as a gifts out of surplus income letter to document intent and understanding what is a deed of covenant for gifts in case of lost capacity

Curious about the people behind the insights? Explore our speakers’ profiles on our website.
Catriona Attride: https://www.mills-reeve.com/people/ca...
Grace Endley: https://www.mills-reeve.com/people/gr...