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Interest in possession/life interest trusts

Rayney’s Tax Planning for Family and Owner-Managed Companies: 2023/24

Author:
Peter Rayney FCA, CTA (Fellow), TEP
Publisher:
Bloomsbury Professional
Publication Date:
2024
Law Stated At:
6 April 2024
Chapter 17: Succession Planning and Passing on the Family or Owner-Managed Company Creation of trust Taxation of income CGT on trust gains CGT for interest in possession trusts IHT treatment of post-21 March 2006 life interest trusts Exit charge on capital distributions/property leaving the trust during first ten years First ten-year charge Use of pilot trusts IHT treatment of pre-22 March 2006 life interest trusts CGT on termination of pre-22 March 2006 life interest Protected ‘immediate post-death interest’ (IPDI) trusts created by will Transitional serial interest (TSIs) trusts ...

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