000			01148cab a2200193 4500
001			##L133389
008			060505n2006 000 0 eng u
035			_a(Sirsi) u133389
041	0		_aeng
100	1		_aMaston, Ian
245	0	0	_aTrusts _bdon't you just love 'em
260			_c2006
490		0	_aTaxation _v157(4055) 27 April 2006, 99-102(4)
520			_aThe Chancellor of the Exchequer has announced some new rules to the inheritance tax treatment of trusts contained in the Finance (No 2) Bill 2006 Sched 20. One of the most dramatic changes is the restriction on Potentially Exempt Transfers (PETs). From 22 March 2006, only outright gifts to other individuals and gifts to disabled trusts will qualify as PETs; the only exception to this rule being transitional serial interests. A new regime for the ongoing tax treatment of trusts has also been introduced. But the author believes that these new rules have overcomplicated inheritance tax and that this factor may deter citizens from dabbling in trusts.
590			_aIKA090506
650	2	4	_aFINANCE (NO 2) BILL 2006 SCHED 20
690			_aPROPERTY-PROPERTY TAXATION
942			_n0
999			_c76973 _d76973