Gifts | Croner-i Tax and Accounting

Abatement

Claim settled out of beneficiary's own resources

Legislation/Regulatory – FA89 s. 172(2) ; IHTA84 s. 29A

Generally

Legislation/Regulatory – IHTA84 s. 37(1)

HMRC Guidance – IHTM12086 ; IHTM12087 ; IHTM26071 ; IHTM26090

Ademption, doctrine of

Absence of subject matter of gift

Commentary – Rossdale: Probate and Administration of Estates ¶43-160 Rossdale: Probate and Administration of Estates ¶45-110

Metal incapacity, exception to

Commentary – Rossdale: Probate and Administration of Estates ¶43-180

Relevance of testator's intention

Commentary – Rossdale: Probate and Administration of Estates ¶43-170

Subsequent gifts of portion to child after date of will

Commentary – Rossdale: Probate and Administration of Estates ¶43-110 Rossdale: Probate and Administration of Estates ¶43-150 Rossdale: Probate and Administration of Estates ¶45-100

Attribution of

Commentary – Tax Reporter ¶631-000

HMRC Guidance – IHTM26121

Burden of tax on

– see Liability for tax

Business assets

– see Gifts of business assets

Business entertaining expenses

– see Business entertainment

Capital gains tax

Business assets

– see Gifts of business assets

Disposals made in settlement

Commentary – Quick Overview ¶14650

Hold-over relief

– see Gifts of business assets

Housing associations

Commentary – Quick Overview ¶15065

Housing associations to

Legislation/Regulatory – TCGA92 s. 259

HMRC Guidance – CG46111 ; CG66635 ; CG73100

Inheritance tax charge

Legislation/Regulatory – TCGA92 s. 67(3), 260, 281

HMRC Guidance – CG18601 ; CG66452 ; DMBM552145 ; DMBM800030 ; SAM001 ; SAM80072 ; SAM80075

Instalment payments

Legislation/Regulatory – TCGA92 s. 281

Market value

Legislation/Regulatory – TCGA92 s. 17

National heritage property

Commentary – Quick Overview ¶15065

National purposes

Commentary – Quick Overview ¶15065

National purposes for

Legislation/Regulatory – TCGA92 s. 257

Non-residents

Legislation/Regulatory – TCGA92 s. 261

HMRC Guidance – CG67032

Public benefit for

Legislation/Regulatory – TCGA92 s. 258

HMRC Guidance – CG10280 ; CG12618 ; CG26240 ; CG26610 ; CG66620 ; CG73301 ; CG73310 ; CG73320 ; CG73325 ; CG73330 ; CG73335 ; CG73400

Qualifying corporate bonds to charity

Legislation/Regulatory – IRInt. 23

Recovery of tax

Commentary – Quick Overview ¶1805

Recovery of tax from donee

Legislation/Regulatory – TCGA92 s. 282

HMRC Guidance – CG18620 ; CG35400 ; CG66451 ; CG66888 ; DMBM580020

Roll-over relief

– see Roll-over relief

Chargeable gains

Business assets

– see Gifts of business assets

Held-over gain relief

– see Gifts of business assets

Housing associations

Commentary – Tax Reporter ¶535-650

Charities

Generally

Commentary – Indirect Tax Reporter ¶50-110

Gifts in kind

Commentary – Indirect Tax Reporter ¶50-115

Charities, to

Ceasing to exist after date of will

Commentary – Rossdale: Probate and Administration of Estates ¶43-100

Charitable purposes, definition

Commentary – Rossdale: Probate and Administration of Estates ¶42-330

Validity of gift

Commentary – Rossdale: Probate and Administration of Estates ¶42-320

Denoting stamp

Legislation/Regulatory – FA2008 s. 100 ; FA85 s. 82(6)-(8)

Discretionary trusts

Commentary – Stamp Taxes Reporter ¶40-725

Donatio mortis causa

Effect of

Commentary – Rossdale: Probate and Administration of Estates ¶28-090

Essential elements

Commentary – Rossdale: Probate and Administration of Estates ¶28-070

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶28-060

Particular property

Commentary – Rossdale: Probate and Administration of Estates ¶28-080

Earnings

Commentary – Quick Overview ¶9080

Educational establishments, to

Commentary – Tax Reporter ¶226-700 ; Quick Overview ¶5625

Case Law – Sharkey (H.M. Inspector of Taxes) v. Wernher

Employment

Clergymen

Commentary – Tax Reporter ¶412-570 ; Tax Reporter ¶488-140

HMRC Guidance – EIM60027

Case Law – COOPER (Surveyor of Taxes) v. BLAKISTON. ; In re The Rev. GEORGE WALTER STRONG. ; POYNTING v. FAULKNER (Surveyor of Taxes.) ; REV. G.N. HERBERT v. J.A. MCQUADE (Surveyor of Taxes). ; SLANEY (H.M. INSPECTOR OF TAXES) v. STARKEY.

Earnings, treated as

Commentary – Tax Reporter ¶412-600

From third parties

Commentary – Tax Reporter ¶437-850

In kind

Commentary – Tax Reporter ¶412-570

Staff suggestion schemes

Commentary – Tax Reporter ¶437-750

Exempt transactions

Commentary – Stamp Taxes Reporter ¶40-720 ; Stamp Taxes Reporter ¶90-005

Exemption

Legislation/Regulatory – SI 1987/516

Failure of

Absence of subject matter of gift, ademption

Commentary – Rossdale: Probate and Administration of Estates ¶43-160

Ademption

Commentary – Finney on Personal Representatives 1.13

Attesting witnesses

Commentary – Rossdale: Probate and Administration of Estates ¶43-090

Capacity to inherit

Commentary – Finney on Personal Representatives 1.16

Charities ceasing to exist

Commentary – Rossdale: Probate and Administration of Estates ¶43-100

Children or issue

Commentary – Rossdale: Probate and Administration of Estates ¶43-050

Class members

Commentary – Rossdale: Probate and Administration of Estates ¶43-040

Commorientes

Commentary – Finney on Personal Representatives 1.12.2

Criminal killing

Commentary – Rossdale: Probate and Administration of Estates ¶43-080

Disclaimer

Commentary – Finney on Personal Representatives 1.14

Divorce

Commentary – Rossdale: Probate and Administration of Estates ¶43-070

Forced heirship

Commentary – Finney on Personal Representatives 1.20

Foreign issues

Commentary – Finney on Personal Representatives 1.19

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶43-010

Joint tenants

Commentary – Rossdale: Probate and Administration of Estates ¶43-030

Lapse

Commentary – Finney on Personal Representatives 1.12.2

Lapse, failure to survive testator

Commentary – Rossdale: Probate and Administration of Estates ¶43-020

Lifetime provision

Commentary – Rossdale: Probate and Administration of Estates ¶43-110

Marriage

Commentary – Finney on Personal Representatives 1.21

Reasons for failure

Commentary – Finney on Personal Representatives 1.12.1

Subsequent gifts of portion to child after date of will

Commentary – Rossdale: Probate and Administration of Estates ¶43-110 Rossdale: Probate and Administration of Estates ¶43-150

Survivorship clause

Commentary – Finney on Personal Representatives 1.18

Uncertainty

Commentary – Finney on Personal Representatives 1.15

Uncertainty about survivorship

Commentary – Rossdale: Probate and Administration of Estates ¶43-060

Forfeiture rule

– see Forfeiture rule

Gift aid

Generally

Commentary – Quick Overview ¶62800

Small donations scheme

Commentary – Quick Overview ¶62815

Held-over gain relief

– see Gifts of business assets

Hold-over relief

– see Gifts of business assets

Housing associations

– see also Housing associations

Generally

Legislation/Regulatory – FA89 s. 171(6) ; IHTA84 s. 24A

Imperfect gifts

Administrator, in favour of

Commentary – Rossdale: Probate and Administration of Estates ¶28-050

Exception, rule in Strong v Bird

Commentary – Rossdale: Probate and Administration of Estates ¶28-040

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶28-030

Importation, relief

Legislation/Regulatory – SI 1984/746 art. 5, 6, Sch. 2, Grp. 8, item 7

Inheritance tax

Abatement

Commentary – Tax Reporter ¶630-850

Annual and small gift exemption

Commentary – Quick Overview ¶16610

Attribution of value

Commentary – Quick Overview ¶16700

Burden of tax

– see Burden of tax

Business assets, capital gains tax

Commentary – Quick Overview ¶15605

Charitable donations, reduced inheritance tax rate

Commentary – Quick Overview ¶16350

Charities

– see Charities

Consideration of marriage

Commentary – Quick Overview ¶16620

Exemption limit, exceeding

Commentary – Tax Reporter ¶630-900

Generally

Commentary – Tax Reporter ¶600-400

Housing associations

Commentary – Tax Reporter ¶645-900 ; Tax Reporter ¶645-950

Housing associations to

Commentary – Quick Overview ¶16565

Lifetime gifts

– see Lifetime gifts

Marriage, gifts in consideration of

– see Gifts in consideration of marriage/civil partnership

National purposes

– see also National purposes

Commentary – Quick Overview ¶16570

Political parties

– see Political parties

Political parties to

Commentary – Quick Overview ¶16560

Potentially exempt transfer

– see Potentially exempt transfers

Reservation, subject to

– see Gifts subject to reservation

Revocable

Commentary – Tax Reporter ¶615-150–Tax Reporter ¶615-250

Time of making, importance

Commentary – Tax Reporter ¶615-300–Tax Reporter ¶616-300

Transfers between spouses

– see Transfers between spouses and civil partners

Under £250

Commentary – Quick Overview ¶16610

Inheritance tax exemption

Commentary – Rossdale: Probate and Administration of Estates ¶16-080

Lifetime provisio

Commentary – Rossdale: Probate and Administration of Estates ¶43-110

Lifetime transfers

– see Lifetime transfers

Long serving employees, supply in the course of business

Case Law – R.H.M. Bakeries (Northern) Ltd. v. Customs and Excise Commissioners. (1978) 1 BVC 159

Lump sums

– see Lump sums

Made before death

Commentary – Rossdale: Probate and Administration of Estates ¶28-030

Mail order

'free gifts' to persons becoming agents

Case Law – GUS Merchandise Corporation Ltd. v. Customs and Excise Commissioners. (1980) 1 BVC 322 ; GUS Merchandise Corporation Ltd. v. Customs and Excise Commissioners. (1981) 1 BVC 432

Catalogues, contingent charge

Case Law – Next Group plc [2011] TC 00998 ; Redcats (Brands) Ltd. [2006] BVC 2,754

Marriage

– see Gifts in consideration of marriage

Meaning

Legislation/Regulatory – IHTA84 s. 42(1)

HMRC Guidance – IHTM26003 ; IHTM26011 ; IHTM26081 ; IHTM26212

Mental incapacity of donor

Commentary – Woolley on Financial Planning with Trusts 21.3

Minors, to

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶36-020

Inheritance tax

Commentary – Rossdale: Probate and Administration of Estates ¶36-030

Money from companies

Commentary – Tax Reporter ¶815-350

Motor car, value added tax

Commentary – Quick Overview ¶67210

National purposes

– see Gifts for national purposes

Order of making

Commentary – Woolley on Financial Planning with Trusts 9.2.4

Other recipient

Commentary – Tax Reporter ¶356-495

Part disposals of land

Commentary – CGT and the Private Residence ¶40-215

Perpetuities

Commentary – Rossdale: Probate and Administration of Estates ¶42-340

Plant and machinery allowances

Disposal value

Commentary – Practical Capital Allowances ¶198-500

Generally

Commentary – Practical Capital Allowances ¶161-000 ; Tax Reporter ¶236-260

Political parties

– see Political parties

Potentially exempt transfer

– see Potentially exempt transfers

Pre-eminent objects gifted to the nation

Commentary – Quick Overview ¶62820

Promotional, deductions

Commentary – Quick Overview ¶5855

Property

Commentary – CGT and the Private Residence ¶30-105

Provision of

Commentary – Tax Reporter ¶211-650

Reduction in value

Legislation/Regulatory – IHTA84 s. 37(2)

HMRC Guidance – IHTM12086 ; IHTM12088 ; IHTM26030 ; IHTM26071 ; IHTM26090 ; IHTM26180 ; IHTM45034

Reservation, with

– see Gifts subject to reservation

Residuary

– see Residuary gifts

Residuary gifts

– see Residuary gifts

Residue

Commentary – Finney on Personal Representatives 1.11.2 ; Finney on Personal Representatives 3.4.2

Settlements

Commentary – CGT and the Private Residence ¶80-200

Settlor or close family member

Commentary – Tax Reporter ¶356-490

Commentary – Rossdale: Probate and Administration of Estates ¶49-120

Small

Legislation/Regulatory – IHTA84 s. 20

Small gifts by third parties

Commentary – Quick Overview ¶9150

Subject to a reservation

– see Gifts with reservation

Substantial provision for child and subsequent gift of portion

Generally

Commentary – Rossdale: Probate and Administration of Estates ¶43-110 Rossdale: Probate and Administration of Estates ¶45-100

Interest on portions

Commentary – Rossdale: Probate and Administration of Estates ¶43-150

Nature of portion

Commentary – Rossdale: Probate and Administration of Estates ¶43-120

Relevance of testator's intention

Commentary – Rossdale: Probate and Administration of Estates ¶43-140

Ã‚Â“for the benefit of the childÃ‚Â” requirement

Commentary – Rossdale: Probate and Administration of Estates ¶43-130

Substitution of property for original gift

Legislation/Regulatory – FA86 Sch. 20, para. 2, 3, 4

HMRC Guidance – IHTM14371 ; IHTM14373 ; IHTM14374 ; IHTM20512 ; IHTM20513 ; IHTM24203 ; IHTM24205 ; IHTM24206 ; IHTM25382 ; IHTM44049

Time of making

Cash

Commentary – Tax Reporter ¶615-550

Cheques

Commentary – Tax Reporter ¶615-600

Case Law – RHOKANA CORPORATION, LTD. v. COMMISSIONERS OF INLAND REVENUE

Choses in action

Commentary – Tax Reporter ¶615-750

Contracts or binding promises

Commentary – Tax Reporter ¶615-350

HMRC Guidance – IHTM14883

Negotiable instruments

Commentary – Tax Reporter ¶615-650

Real property

Commentary – Tax Reporter ¶615-450

Scots law

– see Scotland

Shares and securities

Commentary – Tax Reporter ¶615-700

HMRC Guidance – IHTM14885

Significance

Commentary – Tax Reporter ¶614-850

Tangible moveables

Commentary – Tax Reporter ¶615-500

To trusts

Commentary – Woolley on Financial Planning with Trusts 21.3

Trading or business expenditure, deductions

Commentary – Quick Overview ¶5855

Trading receipts

Commentary – Tax Reporter ¶222-400

HMRC Guidance – BIM41800 ; BIM41805 ; BIM41810

Case Law – (1) CHIBBETT (H.M. INSPECTOR OF TAXES) v. JOSEPH ROBINSON AND SONS. (2) THE COMMISSIONERS OF INLAND REVENUE v. JOSEPH ROBINSON AND SONS. ; Commissioners of Inland Revenue v. Falkirk Ice Rink Ltd. ; ENSIGN SHIPPING CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; McGowan (H.M. Inspector of Taxes) v. Brown and Cousins (trading as Stuart Edwards) ; Murray (H.M. Inspector of Taxes) v. Goodhews ; Rolfe (H.M. Inspector of Taxes) v. Nagel ; Severne (H.M. Inspector of Taxes) v. Dadswell Commissioners of Inland Revenue v. Dadswell ; Simpson (H.M. Inspector of Taxes) v. John Reynolds & Co. (Insurances) Ltd. ; Walker (H.M. Inspector of Taxes) v. Carnaby Harrower, Barham & Pykett

Types of (legacies and devises)

Commentary – Finney on Personal Representatives 1.11.2

Unincorporated associations, to

Commentary – Rossdale: Probate and Administration of Estates ¶42-310

Value added tax

Motor car

Commentary – Quick Overview ¶67210

Non-supplies

Commentary – Quick Overview ¶67170

Supply

Commentary – Quick Overview ¶67120

Wills and deceased estates

Commentary – Stamp Taxes Reporter ¶120-315