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 Taylors’ 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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Trust Companies, Benefit and Operation Checklist

Members and potential members are referred to this useful checklist kindly prepared for TACT by Keith Wallace of Reed Smith LLP

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TACT

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

Phone/Fax: 01424 844144
--------------------------

E-mail: tact@cooden.fsbusiness.co.uk
tact@cooden.fsbusiness.co.uk

Welcome to the TACT

President
      G A C Orton MA(Oxon)
      Bridge Trustees Ltd

      0845 497 1094

      Secretary
      W J Stephenson,
      3 Brackerne Close,
      Cooden,
      Bexhill on Sea,
      East Sussex      TN39 3BT 01424 844144

Objects of the Association

The Association was founded in 1974 to foster a high standard of corporate
trustee service and to establish links with similar professional associations.
TACT also considers and takes appropriate action where necessary on matters of
mutual interest in the fields of law, taxation, regulation, investment and other
related matters.

Management

Vested in a Council consisting of a President and up to 13 representatives of
the members.

Membership

Open to substantial companies conducting executorship and trust business and to charity trust companies. (Please refer to Members List for details)

Application Form
Please see end of Members list
 
Trustee Services offered by Members

  Executorships and Private Trusts
  Loan Capital Trusteeships
  Pension Trusteeships
  Employee Benefit Schemes
(For details see Services pages)

Trust Quarterly Review (formerly The TACT Review)

This is a quarterly publication on matters of interest to trustees and executors
but with the particular interests of trust corporations in mind. Articles are
mainly on legal and taxation aspects of a wide range of topics. Contributions to
the Review are not only from staff of trust corporations but also from a number
of solicitors, accountants and barristers with particular expertise in these
areas of the law.
Publication of the Review is in January, April, July and October.
Articles are distributed more generally through this website to enable them to
be associated for both general information and research purposes, but articles
published in this way do not constitute legal advice nor do they necessarily
represent the views of the Association or its members. Reliance should not be
placed on these articles, nor should decisions be taken on the basis of them
without specific legal or taxation advice on the fact of any particular
circumstance.

Constitution
To read, please click on Constitution above 



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