Wealth Management Planning

Malcolm James Finney 지음

Wiley 2010년 04월 01일 출간

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Wealth Management Planning addresses the major UK tax issues affecting wealth management planning for both the UK domiciled and non-UK domiciled individual. It explains, with numerous worked practical examples, the principles underpinning the three main taxes: income tax; capital gains tax; and inheritance tax. It is aimed at those involved in providing advice in the field of wealth management planning including solicitors, accountants, financial planners, private bankers, trustees, students of tax and law and the layman seeking in depth knowledge.The recent Finance Acts 2006 and 2008, in particular, have modified significantly the tax rules in key areas applicable to wealth management planning. These new tax rules are all addressed in detail in this book and include the pre and post Finance Act 2006 inheritance tax treatment of trusts; the new post Finance Act 2008 residence rules; and the new Finance Act 2008 rules applicable to non-domiciled individuals and the tax treatment of off shore trusts.In view of the increasingly international nature of wealth management planning the book attempts to place the UK tax rules in an international context addressing such issues as: the role of wills in the international arena; the implications of the EU; the suitability of off shore financial centres; and the role and use of double taxation agreements.Appendices bring together useful material produced by HMRC and a detailed bibliography for the interested reader is also included. " This book gives comprehensive coverage to the complicated subject of taxation for Financial Planners. It will be very valuable to all those Financial Planners who wish to extend their learning and reference and desire to meet the needs of clients".NICK CANN, CHIEF EXECUTIVE OF THE INSTITUTE OF FINANCIAL PLANNING." In this book, Malcolm Finney presents a comprehensive summary of the UK tax rules in straightforward language and with ma

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About the Authors.Preface.Abbreviations.PART ONE: THE BUILDING BLOCKS.1. Tax Systems and Their Bases of Taxation.Background.Categories of Tax.Capital v. Income Distinction.Worldwide v. Territorial Tax Systems.(a) Income and Capital Gains Taxes.Worldwide Basis.Territorial Basis.Territorial Basis plus Remittances.Residency.Citizenship Test.Source Basis.(b) Inheritance Tax.Trailing Tax Imposition.Summary.2. UK Taxation: An Overview.Background.Domicile, Residence and Ordinary Residence.Domiciled Individual.Non-domiciled Individual.Persons Other Than Individuals.UK Taxes and Law.Capital v. Income Distinction.Rates of Tax (2008/09).Income Tax.Capital Gains Tax.Inheritance Tax.Allowances.Tax Returns.Income and Capital Gains Tax.Inheritance Tax.Timing of Tax Payments.Income and Capital Gains Tax.Inheritance Tax.Summary.3. Domicile.Background.Concept of Private International Law Not Taxation.English/Welsh, Scottish or Northern Irish.Importance of Domicile for UK Tax Purposes.Categories of Domicile.Domicile of Origin.(i) Legitimate v. Illegitimate Child.(ii) Father Dead at Date of Birth.(iii) Parents Married but Separated.(iv) Legitimation.(v) Loss of Domicile of Origin.(vi) Resurrection of the Domicile of Origin.(vii) Adoption.Domicile of Dependence.(i) Children and Domicile of Dependence.(ii) Married Women and Domicile of Dependence.Domicile of Choice.(i) Misleading Nature of the Word "Choice".(ii) Age Requirement.(iii) Two Basic Requirements.Non-UK Domiciled Individuals Spending Significant Time in the UK.UK Domiciled Individuals Failing to Acquire non-UK Domiciles of Choice.UK Domiciled Individuals Successfully Acquiring non-UK Domiciles of Choice.Abandonment of a Domicile of Choice.Special Categories of Individual and Domicile of Choice.(i)&&

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저자(글) Malcolm James Finney

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Malcolm Finney, B.Sc. M.Sc. (Bus Admin) M.Sc. (Org Psy) MCMI C Maths MIMA, runs his own tax consultancy and training firm, Pythagoras Training. Malcolm-s previous experience has included working for the international finance and international tax consultancy J.F. Chown Company Ltd (now Chown Dewhurst LLP); as partner and head of international tax at the international accountancy firm Grant Thornton LLP; and as head of tax at the London-based law firm Nabarro Nathanson. Malcolm has written extensively on tax matters, has spoken at tax seminars both in the UK and abroad and has been a visiting lecturer at the University of Greenwich Business School.