Holdover applies in two situations. Under s260 Taxation of Chargeable Gains Act (TCGA) 1992 on a lifetime gift where inheritance tax is payable upfront - most commonly on a gift to a discretionary trust - the relief is available even where the gift to the discretionary trust is within the donor's nil rate band, that is, where no IHT is actually payable.
Taxpayers who want to save IHT and who have children under 18 should seriously consider setting up suitable trusts before April 6, 2006.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.