Lorraine Ames
-
Trusts and periodic IHT reporting
When a trust was established prior to TRS we understand that it did not originally need registering where the gift was below 80% of the nil rate band. At the point of periodic charge, does the 80% rule apply here or should all trusts be reporting for periodic charges (and any exit charges where applicable). -
Authors and literary profits: royalties to person other than author & pensions
A widow has recently inherited loyalties from her late husband that will continue for two years and we understand that they are taxable as miscellaneous income. Is this income "relevant earnings" for the purposes of making a pension contribution and receiving tax relief on it. We do not believe that the royalties are for a trading purpose but perhaps you can also clarify that?