Ƶ

Historical IHT scheme ― Eversden

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

Historical IHT scheme ― Eversden

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
imgtext

This guidance note explains an ‘Eversden scheme’; an IHT planning scheme which was popular in the 1990s and early 2000s to remove the value of the main residence from the individual’s estate. The aim was to allow the property owner to remain living in the property without getting caught by the gift with reservation (GWR) provisions. Subsequent legislation means that no new Eversden schemes can be undertaken with the original tax benefits.

See the Gifts with reservation ― overview guidance note.

Although the schemes are no longer recommended, tax practitioners will still encounter arrangements which were set up in the past. The guidance note provides background information on how the schemes worked and what their current status is.

For other historic IHT planning schemes see the Historical schemes: Ingram and reversionary lease schemes guidance note and the Historical IHT schemes ― home loan and family debt schemes. Home loan and family debt schemes guidance note.

How the scheme worked

These schemes involved the transfer of a property from the first spouse

Continue reading the full document
To gain access to additional expert tax guidance, workflow tools, and tax research, register for a free trial of Tolley+™
Powered by
  • 03 Oct 2023 11:40

Popular Articles

Gifts with reservation ― overview

Gifts with reservation ― overviewIntroductionA gift with reservation (GWR) arises when an individual ostensibly makes a gift of his property to another person but retains for himself some or all of the benefit of owning the property. The legislation defines a gift with reservation with reference to

14 Jul 2020 11:48 | Produced by Tolley Read more Read more

Indexation allowance and rebasing

Indexation allowance and rebasingThis guidance note explains the general rules surrounding the availability of indexation allowance (which was frozen at December 2017) on the disposal of company assets and provides information on the rebasing rules for assets held on 31 March 1982. For an overview

14 Jul 2020 11:59 | Produced by Tolley in association with Jackie Barker of Wells Associates Read more Read more

Withholding tax

Withholding taxIntroductionUK tax must be withheld on UK payments including:•interest•royalties•rental incomeUK withholding tax may be reduced under the provisions of a double tax treaty (DTT). Prior to 1 June 2021, payments of interest and royalties made to EU resident associated companies were

14 Jul 2020 14:01 | Produced by Tolley Read more Read more