Zurich guides advisers on trust taxation

The company says the guides, which are aimed at consumers, are an effort to improve the understanding of the trust taxation changes, particularly in the context of Inheritance Tax (IHT) planning. As in March last year Gordon Brown announced changes to the tax treatment of Interest in Possession (IIP) trusts and Accumulation & Maintenance (A&M) trusts, which included the introduction of 10-yearly, entry and exit charges. Although clarity has been lacking around some areas of the changes, as it was only last week that HM Revenue & Customs (HMRC) confirmed that gifts made to bare trusts w...