Family Tax Planning Handbook 2014: Strategies & Tactics To Reduce Tax

In many ways one of the simplest ways to reduce tax is to hold assets and split income with your spouse and children/grandchildren.

However, whilst there are numerous tax benefits available there are also some nasty traps for the poorly advised.

In this book we look at exactly when and how you can shelter assets from income tax, capital gains tax and inheritance tax including planning with other family members.

Topics covered include:

When and how to transfer investment income to your spouse to reduce tax

When and how to transfer investment income to children to reduce tax

How your spouse can help reduce CGT

How your children can help reduce your CGT liability

Employing a spouse in your company

Tax planning when your children turn 18

Income and property tax planning when your children live with you

Buying property tax efficiently whilst your children are studying

Investing tax efficiently for your children

Helping your children to buy their first property tax efficiently

Transferring shares to the next generation and avoiding capital gains tax and inheritance tax

Tax implications of letting family live in your property

Inheritance tax planning for the family home

Using a property trust to protect wealth and minimise taxes

Offshore trusts for grandchildren to avoid UK income tax and CGT

How to claim PPR relief on property occupied by a relative

What you need to know about the IHT rules governing deductions of debts and liabilities from friends and family

Avoiding the 28% rate of CGT with joint ownership

Reducing CGT when transferring property to children (including an example of how to save £24,640 in CGT)

Can Non Doms still remit cash tax free by making gifts to family?

Transferring assets to a child to avoid the £30,000/£50,000 tax charge