William Massey QC of Pump Court Tax Chambers explores the tax benefits of an extension of the trust period under the Variation of Trusts Act 1958 and the impact of the Perpetuities and Accumulations Act 2009
A matter of some importance to settlement trustees is the potential tax liability facing the settlement when it comes to an end. There are many settlements now in existence where the trust period will end within the next 30 years or so. Many of these settlements face adverse tax charges on termination. Here are a few examples.
● Old-style 'accumulation and maintenance' trusts which have passed seamlessly into the inheritance tax 'relevant property' regime bear an inheritance tax charge under IHTA 1984 s 64 every 10...
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William Massey QC of Pump Court Tax Chambers explores the tax benefits of an extension of the trust period under the Variation of Trusts Act 1958 and the impact of the Perpetuities and Accumulations Act 2009
A matter of some importance to settlement trustees is the potential tax liability facing the settlement when it comes to an end. There are many settlements now in existence where the trust period will end within the next 30 years or so. Many of these settlements face adverse tax charges on termination. Here are a few examples.
● Old-style 'accumulation and maintenance' trusts which have passed seamlessly into the inheritance tax 'relevant property' regime bear an inheritance tax charge under IHTA 1984 s 64 every 10...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
