Tax on trusts could still be retrospective - papers 13th April

According to the paper, Standard Life, one of the biggest providers of life policies in trust, said it had uncovered at least three examples of life trusts where investors would be hit by the new 6% tax charge, even if these were set up before last month's Budget changes. In a guidance note issued with the finance bill last Friday, Revenue & Customs said: "In particular, no one who wrote a life insurance policy into trust before Budget day will have to pay an inheritance tax charge." But after a week of poring over the finance bill, Standard Life has said it has discovered where retrosp...