HMRC research suggests trust changes are 'unnecessary'

clock

Research published by HM Revenue & Customs on trusts suggests last year's Inheritance Tax changes were unnecessary, says Scottish Life International.

In last year’s Budget report in March, Gordon Brown MP, Chancellor of the Exchequer, announced changes to the way trusts are taxed to try and minimise the risk of IHT avoidance. The changes, which apply to new trusts created since 22 March and to older trusts from 6 April 2008, mainly affect interest in possession (IIP) trusts and effectively mean any assets will be subject to chargeable gains when paid to the beneficiary. However the 155-page report: ‘Research on Trusts: Experience of Setting Up and Running Trusts’, a survey of settlors and trustees conducted by Gfk Business on behal...

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 Investment

Pensions tax breaks: Budget 'kite-flying' creating cash management challenge

Pensions tax breaks: Budget 'kite-flying' creating cash management challenge

Savers and advisers dealing with cash management quandary

Kate Toumazi
clock 14 October 2025 • 3 min read
Partner Insight: Finding the right partner for a managed portfolio service

Partner Insight: Finding the right partner for a managed portfolio service

Francis Clark Financial Planning set up a white-label managed portfolio service for their clients, but as the effects of COVID-19 played out and markets stagnated, they realised they needed a change. Managing Director Chris Reah explains how they found the right solution.

Chris Reah, Francis Clark Financial Planning
clock 13 October 2025 • 5 min read
Watch Professional Adviser's Working Lunch with Baillie Gifford - Decumulation Decisions: Resilient Monthly Income for Retirees

Watch Professional Adviser's Working Lunch with Baillie Gifford - Decumulation Decisions: Resilient Monthly Income for Retirees

Catch up on the discussion

Professional Adviser
clock 10 October 2025 • 1 min read