Finance Act 2006 turns 20: Why adviser awareness is critical

The trust and estate planning profession is on the cusp of a significant milestone. March 22 2026, marks the 20th anniversary of legislation that, with immediate effect, fundamentally reshaped the tax treatment of many lifetime trusts. Gordon Brown's Finance Act 2006 extended the reach of the Relevant Property Regime (RPR) to beyond just the discretionary trusts it had historically covered. The changes meant the majority of lifetime trusts - including many established using standard trust documentation provided by life offices - became subject to the RPR. This introduced potenti...