Standard Life has decided to keep its discounted gift plan (DGP) trust under suspension following changes to the Inheritance Tax (IHT) treatment of trusts in the Budget.
Immediately following the announcement on the 22 March, Standard Life suspended all of its trust plans, but has since re-launched its absolute trust and flexible trust schemes. But it says it has made the decision to keep this specific plan suspended for three reasons: There needs to be more clarity on the IHT and valuation implications of payments to the settlor, (the person who sets up the trust), and how the trust will be valued after 10 years. It says at the moment there are a number of conflicting views which are causing confusion, and Standard says it will be writing to Her Maj...
To continue reading this article...
Join Professional Adviser for free
- 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