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Archive for August, 2019

Bare Trusts – Income tax and Capital Gains tax

I am looking at gifting my child a sum of money. What are the income tax consequences if I use a bare trust to do so? There is no definition of a bare trust in the income tax legislation. Put simply, a bare trust is one where the beneficiary has the absolute right to the[…] Read more »

Tax-efficient charitable giving

Tax relief on personal giving via Gift Aid is given partly by deducting basic rate tax from the payment and partly by giving relief under self-assessment. That makes it hard to work out the true cost of personal giving. Assume that you want to give £100 out of your post-tax income to charity: in other[…] Read more »


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