2006 has done a marvellous job of filling advisers' diaries with client appointments for 2006 and 2007. A-day arrived and still offers great potential for the retirement planners amongst us. Additionally the Budget statement in 2006 made sure those advising on IHT mitigation and investments where not left twiddling their thumbs either.
December is always a good time to recap on what the year has presented us and certainly this year’s changes turned the status quo on its head. Once we got over the shock on Budget night, we started to remind ourselves how discretionary trusts were taxed and exactly what the impact of entry, exit and 10-yearly periodic tax charges associated with the so-called “relevant property” regime would mean to the end consumer. Potentially exempt transfers (PETs) have survived but at a price. To benefit from the previously popular regime, your clients will have to use bare trusts and forgo the abili...
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