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Guide to US/UK Private Wealth Tax Planning 2nd edition [Minkštas viršelis]

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  • Formatas: Paperback / softback, 816 pages, aukštis x plotis: 234x156 mm, weight: 600 g
  • Išleidimo metai: 28-Jul-2016
  • Leidėjas: Bloomsbury Professional
  • ISBN-10: 1847665098
  • ISBN-13: 9781847665096
Kitos knygos pagal šią temą:
Guide to US/UK Private Wealth Tax Planning 2nd editionDidesnis paveikslėlis
  • Formatas: Paperback / softback, 816 pages, aukštis x plotis: 234x156 mm, weight: 600 g
  • Išleidimo metai: 28-Jul-2016
  • Leidėjas: Bloomsbury Professional
  • ISBN-10: 1847665098
  • ISBN-13: 9781847665096
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9781847665096.html
Raktažodžiai:
This unique book is a concise but complete tax planning manual for those advising high net worth individuals of the UK, US or any other nationality who have UK or US residence, assets or family members.

Guide to US/UK Private Wealth Tax Planning covers all the information and legislation you are likely to require when advising clients exposed to both UK and US taxation, providing you with:

A quick reference summary of the UK and US rules applicable to your clients;

A comprehensive summary of available unilateral and treaty planning techniques to avoid US estate tax or UK inheritance tax for clients who are non-domiciliaries of the UK or US; Optimal income and gains tax planning for foreign trusts with UK or US beneficiaries; Integrated UK and US tax planning solutions for clients exposed to both UK and US tax.







Previous edition ISBN: 9781845920272

Daugiau informacijos

Guide to US/UK Private Wealth Tax Planning provides a concise but comprehensive tax planning manual for practitioners advising high net worth individuals of the UK, US or any other nationality who have UK or US residence, assets or family members. It offers an integrated and practical guide to planning for individuals subject to US and UK tax regimes.
Introduction xxi
Acknowledgements xxii
Glossary xxiii
Table of statutes xxxi
Table of statutory instruments xxxix
Table of IRS materials xli
Table of cases xliii
Part I: Outline of Relevant Taxes
Section 1: Principal taxes
Chapter 1 Taxation status in the US: overview
5(5)
Basic concepts
5(1)
Federal transfer taxes
5(1)
Income tax
6(2)
Capital gains tax
8(1)
Corporation tax
8(2)
Chapter 2 US: transfer tax system
10(20)
US estate tax
10(3)
US gift tax
13(4)
Generation-skipping transfer tax
17(1)
2010 repeal of estate tax and GST
18(1)
Current estate and gift tax rates
19(1)
Computation of federal gift and estate tax
20(2)
Computation and planning for GST (gifts for grandchildren)
22(2)
Deductions, exclusions and credits list
24(1)
Deductions, exclusions and credits for US citizens and domiciliaries
25(4)
Deductions, exclusions and credits for non US citizen/domiciliaries
29(1)
Chapter 3 US: transfer taxes: marital deduction
30(10)
Introduction and history
30(1)
Types of qualifying transfers: outright gifts and marital trusts
31(1)
General power of appointment trusts
31(1)
Qualified terminable interest property trusts
32(2)
Qualified domestic trusts
34(4)
Treaty relief for marital lead/charitable remainder trust
38(2)
Chapter 4 US: state death and inheritance taxes
40(3)
Chapter 5 US: tax on capital gains
43(6)
Gains from the sale or exchange of a capital asset
43(1)
Gains tax on gifts and bequests
44(1)
Exceptions to the general gains tax rules on gifts
44(1)
Distributions from trusts and estates
45(4)
Chapter 6 US: tax basis rules for gifts and bequests
49(7)
Introduction
49(1)
Property acquired by gift
49(2)
Property acquired from a decedent
51(3)
GST transfers
54(2)
Chapter 7 US: income tax
56(10)
Introduction
56(2)
US taxable income
58(4)
Double taxation relief
62(1)
Non-US resident individuals
63(1)
Self assessment
63(1)
Applicable tax rates, deductions, and relevant charts
64(1)
Rates of income tax
64(1)
Social security and Medicare taxes
65(1)
Chapter 8 Overview of principal UK taxes
66(9)
Introduction
66(1)
General
66(1)
Inheritance tax
67(2)
Pre-owned asset tax
69(1)
Income tax
70(1)
Capital gains tax
71(1)
Corporation tax
72(1)
Annual tax on enveloped dwellings
73(1)
Stamp duty land tax
74(1)
Chapter 9 UK: inheritance tax on individuals
75(18)
Introduction
75(1)
Rates of inheritance tax and the nil rate band
76(1)
Who is chargeable?
77(1)
Excluded property
77(1)
Immediately chargeable transfers
78(1)
Potentially exempt transfers
78(1)
Reservation of benefit
79(1)
Omission to exercise a right
79(1)
Transfers by close companies
80(1)
Exemptions and reliefs
80(1)
Spouse/civil partner exemption
81(2)
Gifts to charity
83(1)
Normal expenditure out of income exemption
83(1)
Business property relief and agricultural property relief
83(2)
Inheritance tax on death
85(1)
Liabilities
86(1)
Transfers made within seven years of death
87(1)
Transferable nil rate band
88(1)
The 'residence' nil rate band
89(1)
Estates benefiting qualifying charities
90(1)
Post death variations and disclaimers
91(1)
Liability for inheritance tax
91(2)
Chapter 10 UK: pre-owned asset tax
93(6)
Introduction
93(2)
Avoiding the POAT charge: reservation of benefit elections
95(1)
Exemptions from charge
96(1)
Exceptions to POAT charge for certain assets held in trust
97(1)
Excluded transactions
98(1)
Chapter 11 UK: income tax
99(5)
Introduction
99(1)
UK tax year
99(1)
Personal allowances
100(1)
Rates of income tax
100(1)
Types of income
101(1)
Double taxation relief
102(1)
Non-UK resident individuals
102(1)
Self-assessment and digital tax accounts
103(1)
Chapter 12 UK: capital gains tax
104(9)
Introduction
104(1)
Disposals
104(1)
Date of disposal
105(1)
Residence and domicile
105(1)
Interests in non-UK resident companies
106(1)
Temporary non-residents
106(1)
Disposals of UK residential property by non-UK residents
107(1)
Spouses/civil partners
108(1)
Connected persons
109(1)
CGT and trustees
109(1)
Personal representatives and CGT on death
109(1)
Variations and disclaimers
110(1)
Exemptions and reliefs
110(3)
Chapter 13 UK: the arising basis and the remittance basis
113(13)
Introduction
113(1)
The arising basis
114(1)
The remittance basis
114(1)
Using the remittance basis
115(1)
Mixed funds rules
116(1)
What is taxable on remittance basis?
117(1)
What is a remittance?
117(2)
Exempt property
119(1)
Qualifying investments
119(1)
'Relevant persons'
120(1)
Gift recipients
120(1)
Remittance through connected operations
121(1)
Double tax relief
121(1)
Claiming the remittance basis
122(1)
Remittance basis charge
122(1)
Nominated income and gains
123(2)
Remittance basis: loss of personal allowances
125(1)
Remittance basis: foreign loss elections
125(1)
Chapter 14 UK: corporation tax
126(3)
Introduction
126(1)
Financial years
126(1)
Rates of tax
126(1)
Resident and non-resident companies
126(1)
Exemptions
127(1)
Close companies
127(1)
Income tax
128(1)
Capital gains tax
128(1)
Corporation tax returns and payment
128(1)
Chapter 15 UK: annual tax on enveloped dwellings
129(4)
Introduction
129(1)
Non-natural persons
130(1)
Chargeable interest
130(1)
Single dwelling interest
130(1)
Valuations and chargeable periods
131(1)
Liability for the ATED
131(1)
Reliefs from ATED
131(1)
Anti-avoidance provisions
132(1)
ATED-related CGT
132(1)
Chapter 16 UK: stamp duty land tax
133(8)
Introduction
133(1)
Consideration
133(1)
Exempt transactions
134(1)
Rates of SDLT
134(1)
Trustees
135(1)
SDLT on death
136(1)
Partnerships
136(1)
SDLT on divorce
137(1)
Anti-avoidance
137(4)
Section 2: Tax status and basis of taxation
Chapter 17 US: citizenship
141(1)
Introduction
141(1)
Appendix V — 'The American Diaspora — Innocents Abroad'
141(1)
Chapter 18 US expatriation
142(6)
Expatriation of US citizens and long-term green card holders
142(1)
Exit tax on covered expatriation
142(3)
Estate and gift tax rules for covered expatriates
145(1)
Pre-17 June 2008 expatriation tax rules
146(2)
Chapter 19 US: income tax residence rules for foreign nationals
148(5)
Introduction
148(1)
Lawful permanent residents ('green card holders')
149(1)
Substantial presence
150(1)
Non-resident aliens
151(2)
Chapter 20 US: trust residence (income tax)
153(5)
Introduction
153(1)
The Court Test
153(1)
The Control Test
154(4)
Chapter 21 US: income taxation of non-resident aliens and foreign corporations
158(2)
Chapter 22 US: domicile and transfer taxation of non domiciliaries
160(4)
Introduction
160(1)
'Domicile' and 'residence' for US transfer tax
160(2)
Determining domicile status
162(1)
Continuing nature of US domicile
163(1)
Chapter 23 US: situs of assets taxable to non domiciliaries
164(9)
Introduction
164(1)
Non US citizen/domiciliaries and gift tax
164(2)
Foreign domiciliaries and estate tax
166(3)
US estate tax situs rules for non US citizen/domiciliaries
169(3)
Foreign domiciliaries and generation-skipping transfer (GST) tax
172(1)
Chapter 24 Taxation status in the UK: overview
173(3)
Basic concepts
173(1)
Inheritance tax
173(1)
Income tax
174(1)
Pre-owned asset tax
174(1)
Capital gains tax
175(1)
Corporation tax
175(1)
Annual tax on enveloped dwellings
175(1)
Stamp duty land tax
175(1)
Chapter 25 UK nationality
176(1)
Chapter 26 UK: domicile
177(7)
Domicile generally
177(1)
Types of domicile
177(1)
Domicile of origin
178(1)
Domicile of choice
178(1)
Domicile of dependence
179(1)
Domicile and nationality
180(1)
Deemed domicile and elected domicile
180(3)
Losing UK domicile
183(1)
Chapter 27 UK: residence of individuals
184(16)
Introduction: the UK statutory residence test
184(1)
Terms and concepts
185(1)
Determining UK residence status
185(1)
Days spent in the UK
185(1)
The automatic overseas tests
186(1)
The automatic UK tests
186(1)
The sufficient ties test
187(2)
Death during a tax year
189(1)
Split year treatment
190(3)
Temporary non-residence rules
193(1)
Key terms and concepts
194(4)
Record keeping
198(1)
Form P85: Leaving the UK
198(1)
Certificates of UK tax residence
199(1)
'Ordinary residence'
199(1)
Dual residence
199(1)
Chapter 28 UK: residence of trustees
200(3)
Introduction
200(1)
Using UK investment advisors/managers
201(1)
Capital gains tax exit charge
201(1)
'Split year' treatment
202(1)
Chapter 29 UK: residence of companies
203(4)
Introduction
203(1)
Companies incorporated in the UK
203(1)
Companies incorporated outside the UK
204(1)
Groups
204(1)
Double tax treaties
205(1)
Companies acting as trustees
205(1)
Non-UK resident companies with permanent establishments
206(1)
Chapter 30 UK: situs
207(8)
Introduction
207(1)
Situs rules for IHT and CGT
208(1)
Additional situs rules for IHT
208(1)
Changing situs
209(1)
IHT situs table
210(1)
CGT situs table
211(4)
Section 3: Trust and estate taxation
Chapter 31 US: transfer taxes on trusts
215(8)
Introduction
215(1)
QDOT marital trust
215(1)
GST tax imposed on taxable terminations
216(1)
'Statutory' executor
217(1)
Transferee liability
218(1)
Jurisdictional issues
219(4)
Chapter 32 US: grantor trusts
223(9)
General grantor trust (Clifford) rules applicable to US grantors
224(3)
Grantor and others taxed as the owner
227(2)
NRAs treated as grantors only under limited circumstances
229(3)
Chapter 33 US: non-grantor trusts
232(21)
Introduction
232(2)
US taxation of US non-grantor trusts
234(4)
US taxation of foreign non-grantor trusts
238(1)
Taxation of the US beneficiaries on distributions from non-grantor trusts
239(1)
Beneficiaries of simple trusts
240(1)
Beneficiaries of complex trusts
241(1)
Accumulation distributions, the 'throwback tax' and UNI
242(6)
Loans from foreign trusts as distributions
248(1)
Transfers through intermediaries
249(1)
US taxation of foreign beneficiaries on distributions of US income from non-grantor trusts
250(3)
Chapter 34 US: special needs trusts
253(2)
Chapter 35 US: intentionally defective grantor trusts
255(3)
Chapter 36 Crummey Powers
258(3)
Chapter 37 US: qualified personal residence trust
261(2)
Chapter 38 US: taxation of deceased's estates and beneficiaries
263(2)
Chapter 39 GRATs
265(4)
Introduction
265(1)
Maintaining a GRAT
265(4)
Chapter 40 UK: inheritance tax on trustees
269(6)
Introduction
269(1)
The status of the settlor
269(1)
Multiple settlors
270(1)
The 'relevant property regime'
271(1)
Trusts outside the RPR
271(3)
Inheritance tax on trusts before 22 March 2006
274(1)
Chapter 41 UK: trusts — income tax and capital gains tax
275(9)
Introduction
275(1)
Settlors
275(1)
Non-UK domiciled settlors — the remittance basis
276(1)
Income tax — creating a trust
276(1)
Income tax — UK resident non-settlor interested trusts
277(1)
Income tax — settlor-interested trusts
278(1)
Income tax — the settlements legislation
278(1)
Income tax — the transfer of assets rules
279(1)
Capital gains tax — creating a trust
280(1)
Capital gains tax — taxation of settlor
281(1)
Capital gains tax — non-resident trustees — taxation of beneficiaries
281(1)
Capital gains tax — taxation of UK resident trustees
282(1)
Capital gains tax — deemed disposals and tax free step ups
282(2)
Chapter 42 UK taxation of personal representatives
284(11)
Introduction
284(1)
UK inheritance tax and reporting obligations
284(1)
Excepted estates
285(1)
Estates which require a full IHT account
286(1)
Paying IHT
287(1)
Income tax and capital gains for period to date of death
288(1)
Tax returns during the period of administration
289(1)
Income tax
289(1)
Income tax relief on loans to pay inheritance tax
290(1)
Certificates of tax deducted
290(1)
Capital gains tax
291(1)
Remittance basis
291(4)
Section 4: Taxation on corporations
Chapter 43 US and Treaty entity classification rules — corporations, partnerships and branches
295(2)
US entity classification rules
295(1)
US Check the Box Entity Classification Elections
296(1)
Bilateral and Treaty Rules on Entity Classification
296(1)
Chapter 44 US: private trust companies
297(7)
Introduction
297(1)
IRS Notice 2008-63
297(2)
PTC planning issues
299(3)
Tax issues
302(2)
Chapter 45 US: passive foreign investment companies
304(4)
Introduction
304(2)
Implications for moving to the US
306(1)
Trusts and PFICs
306(1)
PFIC losses
306(1)
Reporting
307(1)
Chapter 46 US: controlled foreign corporations
308(2)
Chapter 47 US: partnership interests of non-US persons
310(6)
Non domiciliary holding or acquiring US property in a partnership
310(1)
Aggregate theory
310(1)
Entity theory
311(5)
Chapter 48 US: non-US corporations and estate tax
316(3)
Chapter 49 US: treatment of non-US entities
319(1)
Entity classification of Foundations (Stiftungs) and Anstalts
319(1)
Chapter 50 UK: UK tax classification of non-UK entities
320(4)
Introduction
320(2)
Foundations
322(1)
Societe Civile Immobiliere
323(1)
Usufructs
323(1)
Chapter 51 UK: companies
324(4)
Introduction
324(1)
The nature and scope of UK corporate tax
324(1)
Income and capital
324(1)
Trading and investment income
325(1)
Withholding taxes
325(1)
Dividend participation exemption
325(1)
Share sale participation exemption
325(1)
Interest and/or royalties participation exemption
326(1)
Losses and deductions
326(1)
Transfer pricing and thin capitalization
326(1)
Stamp duty and SDRT
327(1)
Chapter 52 UK controlled foreign companies
328(3)
Introduction
328(1)
What is a CFC?
328(1)
Gateways, safe harbours and exemptions
329(2)
Chapter 53 UK: partnerships
331(3)
Introduction
331(1)
Joining and leaving a partnership
331(2)
Income profits
333(1)
Chapter 54 UK: offshore funds and offshore income gains
334(5)
Introduction
334(1)
What is an 'offshore fund'?
335(1)
Reporting funds
335(1)
Non-reporting funds
336(3)
Section 5: Charities
Chapter 55 US charities
339(4)
Introduction
339(1)
Definition of 'charity' for US tax purposes
339(1)
US income tax relief for donors
340(1)
US gifts and estate tax relief for donors
341(1)
Retained benefits — charitable trusts: IRC § 664
342(1)
Chapter 56 UK: taxation of gifts to charity
343(10)
Introduction
343(1)
Charitable giving by individuals
343(1)
Inheritance tax
344(1)
Income tax: payroll giving
345(1)
Gift Aid
345(2)
Capital gains tax: charitable gifts of non-cash assets
347(1)
Special reliefs: gifts to charity of UK land and quoted securities
347(1)
The Tainted Charity Donation Rules
348(5)
Section 6: Insurance
Chapter 57 US: life insurance policies
353(6)
Introduction
353(1)
Types of insurance products
354(5)
Chapter 58 UK: qualifying and non-qualifying insurance policies
359(5)
Introduction
359(1)
'Qualifying' policies
359(1)
'Non-qualifying' policies
359(1)
Remittance basis not available
359(1)
The 5% rule
360(1)
Chargeable events
360(1)
Individuals
361(1)
UK resident trusts
362(1)
Non-UK resident trusts
362(1)
Inheritance tax
363(1)
Capital gains tax
363(1)
Chapter 59 UK: personal portfolio bonds
364(5)
Introduction
364(1)
Definition of a PPB
364(1)
Exceptions to the PPB rules
365(4)
Section 7: Compliance
Chapter 60 US compliance: 12 foreign tax reporting forms
369(5)
FATCA
369(1)
US withholding tax form on US investment income
370(1)
FBAR reporting of foreign bank and financial accounts exceeding $10,000
370(1)
IRS Form 8938 (tax FBAR report)
370(1)
IRS Form 3520A reporting of income and assets of US settlor foreign grantor trust
371(1)
IRS Form 3520 reporting transfers by or distributions to a US person from a foreign trust or gifts exceeding $100,000 from a foreign donor
371(1)
IRS Form 5471 reporting ownership and financial information of a US controlled foreign corporation
371(1)
IRS Form 8865 reporting ownership and financial information of a US controlled foreign partnership
372(1)
IRS Form 8621 reporting income or distributions from a passive foreign investment company
372(1)
IRS Form 8858 reporting ownership and financial information of a foreign disregarded entity
372(1)
IRS 'Check the Box' Election Form 8832
373(1)
IRS Form 926
373(1)
Chapter 61 US: withholding tax regulations
374(3)
Introduction
374(3)
Chapter 62 US FATCA
377(7)
Introduction
377(1)
The US-UK Intergovernmental Agreement
378(3)
Reporting requirements for trusts under the US-UK IGA
381(3)
Chapter 63 US requirement for reporting of foreign financial accounts FBAR and tax FBAR annual reports
384(8)
IRS Voluntary Disclosure Initiatives
384(2)
The Tax FBAR (Form 8938) US income tax return reporting of foreign financial assets
386(4)
Foreign assets reportable on Form 8938
390(2)
Chapter 64 US offshore voluntary disclosure program
392(6)
Introduction
392(1)
The 2012 OVDP for wilfully non compliant taxpayers
393(1)
Consequences for noncompliance if discovered by the IRS
393(1)
The 2014 Streamlined Foreign Offshore Filing Program
394(2)
Paths to become compliant
396(2)
Chapter 65 US foreign trusts' reporting requirements
398(7)
Special reporting obligations
398(2)
How, when and where to report
400(2)
Income tax reporting and employer identification numbers (EINs)
402(3)
Chapter 66 UK: self assessment
405(4)
Introduction
405(1)
UK tax year
405(1)
Spouses/civil partners
405(1)
Who must complete a Return?
405(1)
Form of return for individuals
406(1)
Time limits and filing dates
406(1)
Records and further information
407(1)
Penalties, interest and criminal proceedings
407(1)
Dealing with HMRC through an agent
407(1)
Payment of tax
408(1)
Partnerships
408(1)
Chapter 67 UK: trust reporting
409(4)
Reporting on the creation of a trust
409(1)
Ongoing reporting requirements
410(1)
Informational forms
410(1)
Inheritance tax forms
410(1)
Inheritance Tax Act 1984, ss 216 and 218
411(2)
Chapter 68 UK: tax information exchange measures
413(5)
Introduction
413(1)
UK 'FATCA'
413(2)
Common Reporting Standard
415(1)
Other information sharing and co-operation measures
416(2)
Chapter 69 UK: general anti-avoidance legislation
418(9)
Introduction
418(1)
DOTAS
418(3)
General Anti Abuse Rule
421(2)
Follower notices
423(1)
Accelerated payment notices
424(3)
Section 8: US-UK Treaties
Chapter 70 The US-UK Income Tax Treaty
427(5)
Introduction
427(1)
Dividends
428(1)
Interest and royalties
428(1)
Branch profits tax
428(1)
Permanent establishments
428(1)
Employment income
429(1)
Capital gains
430(1)
Source of income
430(1)
Dual resident tie breaker rule
430(1)
Transparent entities
431(1)
Chapter 71 The US/UK estate and gift tax treaty
432(15)
Introduction
432(2)
Fiscal domicile
434(1)
Exception: immovable property (real estate) and permanent establishment property
435(1)
Exception: taxation of nationals permitted
435(1)
Taxing rights where transferor/decedent not domiciled in either country
436(1)
Deductions and exemptions
437(2)
Article 8(5) limits US tax exposure to UK nationals wherever domiciled
439(1)
Credits
440(1)
Permanent establishment property
441(6)
Part II: Planning
Chapter 72 UK: pre-immigration planning
447(17)
Introduction
447(1)
Immigration considerations
447(1)
Domicile
448(1)
Residence
449(1)
Rebasing assets
449(1)
Planning for the remittance basis
450(4)
Investments
454(1)
Purchasing a UK house
455(4)
Existing trusts and trusteeships
459(2)
Living trusts
461(1)
Companies and directorships
462(1)
Tax compliance
463(1)
Chapter 73 US: pre-immigration planning
464(25)
Introduction
464(1)
US v UK domicile — Treaty rules
465(4)
Starting date of US income tax residence
469(2)
Pre-immigration income tax planning
471(7)
Pre-immigration gift and estate tax planning
478(5)
Domestic asset protection trusts (DAPTs)
483(2)
Foreign asset preservation trusts
485(1)
Grantor trust considerations
486(1)
Avoiding beneficiary general power of appointments
486(3)
Chapter 74 Expatriation
489(5)
Introduction
489(5)
Chapter 75 Lifetime giving
494(11)
Introduction
494(1)
Planning for the UK domiciliary
495(4)
Planning for a US citizen who is not UK domiciled
499(1)
Use of GRATs to leverage the US person's lifetime exemptions
500(2)
Planning for the US citizen who has been resident for just over 14 or 16 years (before 2017)
502(3)
Chapter 76A Spouses and civil partners: lifetime planning
505(13)
Introduction
505(1)
US gift tax and UK IHT
506(9)
Planning: further options
515(3)
Chapter 76B Spouses and civil partners: testamentary planning
518(12)
Introduction
518(1)
US estate tax and UK IHT
518(12)
Chapter 76C Spouses and civil partners: jointly-owned property
530(6)
Introduction
530(1)
Ownership for UK tax and English property law purposes
530(1)
Ownership for US federal estate tax purposes
531(1)
Ownership for US federal gift tax purposes
531(2)
Planning for joint interests with non-US citizen spouses
533(3)
Chapter 76D Divorce planning
536(14)
Introduction
536(1)
UK IHT
537(1)
US gift tax
538(1)
UK CGT
539(1)
Remittance basis: CGT and income tax on non-UK assets
540(2)
US income tax on the transfer of assets between divorcing spouses
542(8)
Chapter 77 Insurance planning
550(6)
US irrevocable insurance life trusts
550(2)
Using an insurance wrapper: a PFIC/CFC strategy
552(4)
Chapter 78 Trusts and partnership planning: forming trusts and other entities
556(26)
Excluded property trusts
557(3)
Grantor trust planning: revocable trusts
560(1)
Grantor trust planning: settlor and spouse only irrevocable trusts
560(1)
Private trust companies
561(6)
Family limited partnerships and partnerships for mitigation of transfer tax
567(5)
PFIC and CFC strategies
572(1)
Check the box election
573(4)
LLCs and LLPs for trustees
577(2)
Asset protection trusts
579(1)
Covered expatriate trusts
579(3)
Chapter 79 Trusts and partnership planning: planning with existing trusts
582(21)
Older 'grandfathered' grantor trusts
582(1)
Grantor trust planning (cascading power of appointment)
583(1)
Post grantor trust planning
584(1)
Non-grantor trust planning and accumulation distribution planning
585(13)
Planning in advance for foreign non-grantor trusts
598(5)
Chapter 80 Wills
603(12)
Legacies
603(1)
Using exemptions with marital deductions
603(4)
Domicile mismatches
607(2)
QDOT considerations
609(2)
Trust income tax considerations
611(3)
IHT business property and agricultural property planning
614(1)
Chapter 81 Probate and the administration of estates: tax issues for personal representatives
615(9)
Introduction
615(1)
Tax residence issues for personal representatives
615(3)
Valuation issues: ability to revalue assets
618(2)
Timing issues
620(1)
Double taxation and treaty issues
621(3)
Chapter 82 Post-death variations and disclaimers
624(9)
Introduction
624(1)
Disclaimers
624(2)
Deeds of variation
626(6)
Precatory trusts
632(1)
Section 144 deeds of appointment
632(1)
Chapter 83 Giving to charity
633(9)
Introduction
633(1)
Cash gifts
633(2)
Dual qualified structure
635(2)
Charitable remainder trusts and charitable lead trusts
637(3)
Friends of organizations
640(1)
Donor advised funds
641(1)
Appendix I: US Tax Tables 2016/2017 642(5)
Appendix II: UK Tax Tables 2016/17 647(4)
Appendix III: 2001 United Kingdom-United States Income Tax Treaty (conformed to include the 2002 Protocol) 651(40)
Appendix IV: 1978 United Kingdom-United States Estate and Gift Tax Treaty 691(14)
Appendix V: The American Diaspora, Innocents Abroad 705(8)
Appendix VI: FATCA, IGAs, and the OECD CRS: The Future Landscape for Trusts 713(20)
Appendix VII: Trust and Company Strategies to Avoid Penal US Tax Exposures 733(8)
Index 741
Withers LLP is the leading law firm for private client, tax and trust advice in Europe, the US and Asia. Robert L Williams is a US international tax attorney and former EY international tax partner.