Tag: tax

CGT provisions and unpaid present entitlements

We have recently seen the Tax Office scrutinise the capital gains tax (CGT) treatment of unpaid present entitlements (UPEs) as part of their audit activity into high net worth individuals, particularly where UPEs have been either forgiven or assigned rather than satisfied by the trustee.

 

The CGT treatment of UPEs is…

Individual liability limited by a scheme approved under professional standards legislation