.png)
.png)
The quest for the grail
KEY POINTS
- New rules were introduced by F(No 2)A 2017 but with retrospective effect from 6 April 2017.
- Settlors are prevented from obtaining preferable tax treatment.
- There is no unified concept across the taxes of when a trust qualifies as settlor interested.
- The consequences of a trust being settlor interested differ depending on the tax concerned.
- The gift with reservation of benefit rules can result in double taxation.
- Trusts may have protected status but could this lead to a false sense of security?
Tax practitioners across the land have been left pondering the operation of the rules on the protection of overseas trusts. The rules are a knight in shining armour for some deemed domiciled settlors. Their preparation for battle was slow: the draft legislation was...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
