Inheritance tax planning - what happens now?

This was when schemes allowed benefits to pass to any number of people in any number of instances. How many times did we say IHT is now a voluntary tax – quoting a chancellor or two? Look at life now. The good news is that the offshore life companies have been innovative in launching trusts that are based on the new regime. Broadly, there are companies that now offer bare trusts which are good from a tax point of view (PET rules still apply) but very inflexible as to who can benefit and when. Or there are discretionary trusts which give flexibility over who benefits and when, but the tax ...