Transferring wealth in a tax-efficient manner

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Transferring wealth in a tax-efficient manner by Mind Map: Transferring wealth in a tax-efficient manner

1. Use of trusts - key points

1.1. Reasons for using trusts

1.2. Trusts and IHT charges

1.3. Administration

2. Passing on all/part of the business: key points

2.1. Tax credit reduces tax payable

2.2. Gift relief

2.3. Restrictions on gift relief

2.4. SDLT/LBTT

2.5. Inheritance tax

2.6. Entrepreneurs' relief

2.7. Administration - passing on the business

3. Passing on cash - key points

3.1. CGT and IHT

3.2. Death within seven years

3.3. Trusts for children

4. Passing on other assets - key points

4.1. Capital gains tax

4.2. Non-business asset gift rellief

4.3. Trusts and IHT charges

4.4. Administration