Advisers working in the field of estate planning have been given a mixed bag of proposals in the Budget, Standard Life says.
The provider welcomed the news the two year transition period for changes to Interest In Possession trusts, due to expire on 5 April 2008, has been extended to 5 October 2008. This will give trustees and their advisers an extra six months to consider the IHT impact of Budget 2006, Standard Life says. However, it highlights that Budget Note 46 refers to the Finance Act 2006 being “unclear”. It states new measures will be introduced in the forthcoming Finance Bill to clarify the type of beneficiary changes which will qualify for special treatment under the transition rules. Julie Hutchiso...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
