Post-Budget changes to the taxing of trusts

tax

Following Budget changes, investors who want to pass on wealth will have to decide whether they are prepared to accept more complex tax rules for the sake of achieving flexibility

The chancellor announced some radical changes to the way that some trusts are taxed in his 2006 Budget. These changes have now been passed into law, with the Finance Act 2006 receiving Royal Assent, and are having a major impact on the way intermediaries approach inheritance tax (IHT) planning. With this area of financial planning set to continue to grow rapidly over the coming years intermediaries should be looking to ensure they are up to speed with what has happened and how the changes, and the new products and services being made available by providers, can be used to best effect to he...