UCL FACULTY OF LAWS

LLM Programme

The taught modules offered on the LLM programme vary from year to year. Please check the full list of taught modules list for details of modules running in specific academic years. We make every effort to ensure that every module will be offered, but modules are subject to change and cancellation. You are therefore advised to check this site regularly for further updates throughout the year preceding entry to the LLM programme.


TAXATION, TRUSTS AND PLANNING A (LAWSG162A)
Credit value: 15 credits (6 ECTS)
Module Convenor: Monica Bhandari Other Teachers: N/A
Content

Summary:

This course will consider the taxation of trusts in relation to two main taxes: Capital Gains Tax and Inheritance Tax. We will examine each of these taxes individually and also consider how they work together to form a coherent system, and how one can affect the other. We also begin to look at tax planning methods using these taxes. The UK tax system will be used as an example system, but the principles and theories that we will look at are applicable in any jurisdiction. Students are able to study on this course whether or not they have previous experience of tax law.

Syllabus:

A: Summary of English trust law
What is equity? What is a trust?
Trust formalities
Types of trust and trust power

B: Summary of UK tax law
History and constitutional elements
The UK tax system
Statutory interpretation

C: Capital gains tax and trusts
The charge to CGT, computation and reliefs
Bare trusts and settled property
The significance of death for CGT

D: Inheritance tax and settlements
The charge to IHT, transfers of value, gifts and potentially exempt transfers
Exemptions and reliefs
Gifts with reservation/Preowned assets
Collection, liability to IHT and collection
IHT trusts

Background Reading (optional):

  • Lee - Revenue Law: Principles and Practice
  • James Penner – The Law of Trusts
  • Hayton & Marshall – Hayton & Marshall: Commentary and Cases on the Law of Trusts and Equitable Remedies
  • Alistair Hudson – Understanding Equity and Trusts Law
  • David Hayton – The Law of Trusts

Module reading lists and other module materials will be provided via online module pages, once students have made their module selections upon enrolment in September.

Delivery and enrolment
Lectures/Seminars: 10 x 2-hour seminars
Tutorials: None
Previous module enrolments: Small – less than 15 students
Who may enrol: LLM students, other UCL Masters students
Prerequisities: None
Barred module combinations: This module cannot be taken together with its full module LAWSG162
Core Module for LLM specialism: International Commercial Law, Public Law
Assessment
Final Assessment: 2-hour unseen written examination
Practice Assessment: Opportunity for feedback on one optional practice essay

This page was last updated on 8 July, 2014

APPLICATION NOTICES

The application process for the 2015-16 academic session is now open.

Please note, for the 2015-16 intake, we are not accepting the TOEFL test. If you have an English condition to meet, you must take one of the alternative tests listed here instead.