HMRC have announced the following changes to their Trusts, Settlements and Estates Manual:
- heritage maintenance funds (internal process removed);
- Trusts for particular purposes: employment related trusts – retirement benefits schemes and registered pension schemes (page updated); and
- Non-resident trusts: residence rules: trust residence for Income Tax and Capital Gains Tax purposes – periods from 6 April 2007 – changes during the tax year (page updated “to clarify legislation”).
https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/updates
Related content from Claritax Books
This substantial volume on Financial Planning with Trusts, jointly written by John Woolley and Marcia Banner, looks at a wide range of topical tax and financial planning strategies using trusts. The book includes CGT, income tax and IHT.
Examples of the topics covered include (among many others) lifetime IHT planning; family investment companies as alternatives to trusts; offshore trusts; trusts and deeds of variation; trustee investment strategies; death benefits under registered pension schemes; by-pass trusts; asset protection trusts; personal injury trusts; money laundering and the Trust Registration Service.
