HMRC are piloting a change in the way that they monitor of excepted estates. ...
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Following upon a previous meeting in 2007, another meeting of TACT representatives and IRCT was held on 11 February 2010 at which issues raised by members of TACT PTC were raised along with issues remaining unresolved from the 2007 meeting. ...
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Six free toolkits to help agents avoid common errors when filing clients' returns were published on 17 May 2010 by HM Revenue & Customs ...
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TACT have written to HMRC regarding the proposals concerning tax reclaims in Settlor Assessable Trusts ...
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Introduction
TACT (The Association of Corporate Trustees) Code of Practice - Adopted in Full 11 July 2013
The Association of Corporate Trustees is the representative body for professional corporate trustees.
Our members operate in diverse areas of trusteeship and allied operations.
It is recognised that members are subject to regulation, oversight and control by a number of bodies and no code of practice adopted by TACT can or should replace these.
This Code relates to all members and all business.
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Arrangements for the Dinner are now being finalized. It will again be held at The Merchant Taylorsí Hall, 30 Threadneedle Street, London EC2R 8JB
The principal speaker will be ALAN WRIGHT.
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The Association of Corporate Trustees (TACT) is the membership organisation of the UK corporate trustee sector. Its members include trust companies owned by banks and major financial institutions as well as those set up by firms of accountants, lawyers and pension advisors. Those trust companies are responsible for the management of over £1 trillion worth of assets, including sovereign and other debt of over £900 million and occupational pension funds with in excess of 1.25 million members, representing over 10% of that sector

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The Association of Corporate Trustees (TACT) is the membership organisation of the UK corporate trustee sector. Its members include trust companies owned by banks and major financial institutions as well as those set up by firms of accountants, lawyers and pension advisors. Those trust companies are responsible for the management of over £1 trillion worth of assets, including sovereign and other debt of over £900 million and occupational pension funds with in excess of 1.25 million members, representing over 10% of that sector

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Present

HMRC Ton y Key, Ian Hempstead
TACT Mik e Coulshed, Paul Saunders

1. Compe nsation payments

1. Compe nsation payments

Question
There are significant issues around the taxation of the various different redress payments being made at the present time, such as in relation to the PPI mis-selling.
We understand the correct position is that there is no value attributable for IHT purposes on death if the right to compensation had not been established before the date of death. Conversely, if as at the date of death an offer of settlement had been made, the value then on offer would seem to be the appropriate value for IHT purposes.
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TACT

W J Stephenson,
3 Brackerne Close,
Cooden,
Bexhill on Sea,
East Sussex
TN39 3BT

Phone/Fax: 01424 844144
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E-mail: tact@cooden.fsbusiness.co.uk
tact@cooden.fsbusiness.co.uk

``The principal purpose of the Association (TACT) is to represent the interests of its membership which comprises nearly all of the leading corporate trustees who operate in the U.K.

TACT is directed by its Council, which consists of the President, Vice President, the Chairman of each of its operating Committees and others nominated by the membership.

It carries on the bulk of its work through its operating committees.† These Committees gather together the practitioners in each of the major markets for corporate trustees so that their different characteristics can be recognised and the interests of their trustees and trusts can be represented.

The aggregate value of all the financial arrangements which are in the care of the Association`s members is well in excess of £1 trillion.



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