.png)
.png)
07 November 2007
The inheritance tax calculations required on a discretionary trust
To get actionable insight and practical guidance to support you day-to-day on 'Tax charge on death' click here.
---
Our client died in November 2004. His will created a discretionary trust. The only assets passing into the trust were the lump sum death benefits paid at the pension trustees' discretion from two approved pension schemes of which he had become a member in July 1988 and March 2000 respectively. No inheritance tax (IHT) was payable when these lump sums were paid to the trustees of the will trust. We are aware that for IHT purposes the two funds within the will trust constitute two separate settlements which commenced when our client became a pension scheme member. He had made no chargeable transfers in the seven years before becoming a member of each pension scheme.
We...
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.
