Trusts IHT guidance still brooks argument

clock

Reactions coming in on the Finance Bill's suggestion earlier today that IHT on trusts will not apply retrospectively have been mixed so far.

Standard Life, which suspended its bond trust plans in light of the Budget, says the latest guidance note from HM Revenue and Customs expressly states “there is no retrospective tax charge”, which it interprets as meaning only new trusts will be affected by the Bill. Still, the life company is sufficiently wary to add: “the next step is for us to ensure that this is actually the case as we work through the detail in the coming days.” “We are, however, pleased to have had early confirmation that absolute trusts are outside the scope of the new rules.” John Riches, chair of the Techn...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: 40s are the new 50s - a move in the right direction? 

News editor's view: 40s are the new 50s - a move in the right direction? 

The news editor's Friday Night Takeaway from 1 May

Isabel Baxter
clock 01 May 2026 • 3 min read
Feel Good Friday: FOS chooses Dementia UK as charity partner

Feel Good Friday: FOS chooses Dementia UK as charity partner

Will support Dementia UK over the next two years

Professional Adviser
clock 01 May 2026 • 1 min read
Why 50:50 parenting doesn't necessarily mean no child maintenance

Why 50:50 parenting doesn't necessarily mean no child maintenance

'In many cases, one parent will meet a greater share of the children’s financial needs'

Clizia Motterle
clock 01 May 2026 • 4 min read