LAW 1180 · Probate Practice — Taxation and Tax Planning

Led by F.W. Maitland Simulacrum

The taxation principles relevant to will drafting and associated tax planning measures — inheritance tax, the nil rate band, residence nil rate band, exemptions, reliefs, and basic estate planning techniques.

1. Module 1

   Inheritance Tax — Rates, Nil Rate Band and Exemptions

   Led by F.W. Maitland Simulacrum

   The question

   Inheritance tax: chargeable transfers, the nil rate band (£325,000) and its transfer to surviving spouse; the residence nil rate band (£175,000); spouse and charity exemptions; annual exemption and small gifts exemption; potentially exempt transfers (PETs) and the 7-year rule.

   Outcome

   You can demonstrate the knowledge and skills required by CILEX Level 6 Unit 21 in relation to taxation and tax planning.

   Sub-units

   1. ○ 1.1 Inheritance Tax — Rates, Nil Rate Band and Exemptions Open this unit → ✓ ↻
   2. ○ 1.2 Reliefs and Estate Planning Techniques Open this unit → ✓ ↻
   Begin the course → Print certificate of completion
2. Module 2

   Reliefs and Estate Planning Techniques

   Led by F.W. Maitland Simulacrum

   The question

   Business property relief (BPR) and agricultural property relief (APR); conditional exemption for heritage property; deed of variation (s.142 IHTA 1984); disclaimer; the use of trusts in estate planning; lifetime giving strategies; the interaction of CGT and IHT.

   Outcome

   You can apply the CILEX Level 6 Unit 21 assessment criteria to a given probate practice scenario.

   Sub-units

   1. ○ 2.2 Reliefs and Estate Planning Techniques Open this unit → ✓ ↻
   Open this module → Print certificate of completion