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Category: 308BIR
Protected: 308BIR: Session 26
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Protected: 308BIR: Session 11
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Using trusts to preserve family wealth
Treating trusts has proven an effective way of passing wealth onto subsequent generations but according to HM Revenue & Customs, there may still be capital gains tax payable. CGT applies in most cases when an asset that has increased in Read More …
Types of trust
The main types of trust are: bare trusts interest in possession trusts discretionary trusts accumulation trusts mixed trusts settlor-interested trusts non-resident trusts Each type of trust is taxed differently. Trusts involve a ‘trustee’, ‘settlor’ and ‘beneficiary’. Bare trusts Assets in a Read More …
Trusts remain out of favour with wealthy families
Wealthy families are increasingly shunning the use of trusts for financial planning because of increased tax rates and concerns about privacy, advisers warn. The latest statistics from HM Revenue & Customs, published on Thursday, show the number of trusts has Read More …