Tony Guest

My wife and I were joint settlors for a trust. The 10 year anniversary is soon due and I note that form IHT100d only allows for the input of one settlor.

I’m aware of the rules regarding the date but my question was more specific as I cannot find the answer on the link you sent. The valuation of many assets will hardly change day by date but shares do. So if I transfer shares on say today Monday 15 July, is the valuation based upon the previous closing price on Friday 12 July or the closing price at the end of the day on Monday 15 July

As your total gain is £90,000 over 28 years, under the rules of top slicing you add the annual gain of 90,000/28 = £3,214 per annum and add it to your income in the year to see if it takes you into higher rate bands. As the gain is already taxed at 20% you should have no tax to pay

I’m in the process of gifting shares to my children. In calculating my capital gains, is the MV of the shares the closing value on the day of the transfer or the previous days closing value.