ARTICLE · 21 OCTOBER 2013

Weekly Tax Update – Monday 14 October 2013

Smith & Williamson

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The Chancellor of the Exchequer, George Osborne has announced that he will give his annual Autumn Statement to Parliament on 4 December 2013.

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Smith & Williamson

1 GENERAL NEWS

1.1 Autumn Statement to be given on 4 December 2013

The Chancellor of the Exchequer, George Osborne has announced that he will give his annual Autumn Statement to Parliament on 4 December 2013.

www.gov.uk/government/news/autumn-statement-2013-date-announced-by-chancellor-as2013

2 PRIVATE CLIENT

2.1 Use of Deeds of Variation

Deeds of Variation can be much more useful than one might imagine.

There is a popular misconception that a Deed of Variation must be accompanied by an IHT election under IHTA84 s142 and can in addition, but need not, be accompanied by a CGT election under TCGA 92 s62(6). However a Deed of Variation can be done without any tax elections and can be accompanied by an IHT election, a CGT election or both.

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