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A settlement was created 20 years ago with a capital sum of about £150 000. The settlor had no other trusts so this was a nil-rate band trust. Matters were fairly straightforward for the first ten years. There were some capital additions but the total value after ten years was still below the nil-rate band. We are now at the second ten-year anniversary and in the past decade there has been another single capital addition of about £150 000. There have also been some smaller additions as well as annual trust expenses of about £5 000 which the settlor pays from his own pocket.
The net result is that the total value of the settlement is now about £400 000.
How will the above affect completion of the second ten-year return and more importantly the calculation of the ten-year...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
