Personal Tax Round Up for Private Client Lawyers - The Latest Update with Robert Jamieson

Introduction

This new virtual classroom seminar seeks to update practitioners on developments in personal tax, covering the last three years, and examines a variety of planning points which will be of interest to both business and private clients in 2024.

Disputes on the correct tax treatment of dividends are rare events and so it was intriguing to find two hearings (in both of which the taxpayers were successful) appearing in quick succession in late 2022.

Measures in F(No2)A 2023 include a simplified income tax regime for trusts, modifications to the tax rules for pension contributions and a new code for CGT on marriage breakdown.

Elsewhere - and prior to their abolition - the OTS made several interesting recommendations relating to the interaction between CGT and IHT and there has been a fascinating trio of SDLT cases where HMRC’s arguments are diametrically opposite of what they would have been in a CGT context!

Finally, the Chancellor has confirmed that, with effect from 6 April 2024, the IHT agricultural and woodlands reliefs will be restricted to land situated in the UK.

The session is suitable for all staff who help private clients with their tax planning.

What You Will Learn

This live and interactive course will cover the following:

• Taxation of dividends
• Salaries, bonuses, and dividends from family companies in 2024/25
• Income tax simplification for trusts
• Pensions - important recent modifications
• Case study on the annual allowance for pension contributions
• CGT on separation and divorce
• An inverse argument
• The interaction of CGT and IHT
• Changes to the geographical scope of certain IHT reliefs

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.