We’ve waited a long time but we finally seem to be near to the end of the project to simplify the inheritance taxation of trusts.
The idea of simplification was first announced in Budget 2012 and we have enjoyed three separate consultations and a 180 degree turn since then.
The first consultation – Inheritance tax: simplifying charges on trusts (July 2012) – was hopeless seeking general views but offering little. The second – Inheritance tax: simplifying charges on trusts – the next stage (May 2013) – suggested more specific changes some of which (on the treatment of retained income and accounting and payment dates) became law. It also introduced the idea that a person’s nil rate band might...
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We’ve waited a long time but we finally seem to be near to the end of the project to simplify the inheritance taxation of trusts.
The idea of simplification was first announced in Budget 2012 and we have enjoyed three separate consultations and a 180 degree turn since then.
The first consultation – Inheritance tax: simplifying charges on trusts (July 2012) – was hopeless seeking general views but offering little. The second – Inheritance tax: simplifying charges on trusts – the next stage (May 2013) – suggested more specific changes some of which (on the treatment of retained income and accounting and payment dates) became law. It also introduced the idea that a person’s nil rate band might...
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:
first announced in Budget 2012 and we have enjoyed three separate consultations and a 180 degree turn since then. 
