This well-respected publication provides excellent advice and guidance on how administrators of estates and trustees might best carry out their duties. Mellows follows chronologically the phases in which an executor or administrator may be required to deal with income tax, inheritance tax and capital gains tax, i.e. settling the deceased's personal tax liability, administering the estate and related trusts, undertaking post death tax planning and distributing funds. Well-known for its logical approach to a complex subject, this service provides explanation and practical consequences for executors and trustees, with worked examples of all the main computations likely to be encountered in practice. It also gives an overview of the ideas upon which the applicable law is based, to enable executors and trustees to make informed decisions in areas not specifically dealt with by the legislation.

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Issue 77, September 2024 UPDATE INFORMATION Chapter Updates Chapter 2 The deceased's personal tax liability: income tax Chapter 2A: The deceased's personal tax liability: pre-owned assets tax Chapter 5 Inheritance tax on death Chapter 7 Capital gains tax during the administration of the estate Chapter 9 Alterations to dispositions after death Chapter 14 Administration of a trust: income tax Chapter 15 Administration of a trust: capital gains tax Chapter 23 Nil rate band discretionary trusts constituted with a debt or charge. This edition gives the position for the tax year 2023-24 and covers all legislation, HMRC's published guidance and other relevant sources of information.