Pre-owned tax charge row finds new victims

tax & jurisdiction

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The Clerical Medical Family Wealth Trust and the Scottish Equitable Plus Trust look likely to be the...

The Clerical Medical Family Wealth Trust and the Scottish Equitable Plus Trust look likely to be the latest victims of the ongoing dispute between international investors and regulators surrounding the UK's pre-owned asset tax, which imposes an income tax on people who give away assets but continue to use them. UK Chancellor Gordon Brown had announced that schemes involved in inheritance tax mitigation would be targeted, but it was uncertain as to what would the full implications of this would be. Now the UK has clarified its position. According to Gerry Brown, technical manager at Scot...

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