BUDGET 2006: Trusts affected by UK Government's IHT clampdown

Professional Adviser
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Inheritance tax (IHT) exemptions which presently apply to some types of trusts will only be available in certain prescribed circumstances.

Where this is not the case, IHT charges will apply in the same way as for all other trusts, preventing these trusts from being used to shelter wealth from IHT. Brown also has plans to review the residence and domicile rules that affect the taxation of individuals.

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