Too much, too young

21 September 2006 / Richard Curtis

Issue: 4076 / Categories: Comment & Analysis , Inheritance Tax , Trusts

RICHARD CURTIS follows Standing Committee A's debates on the new inheritance tax regime for trusts.

DRUGS DON'T WORK and nor according to the Government do other various other issues in affording access to 'special' tax treatment for trusts relating to such persons. During these Committee debates Mr Newmark (Conservative) alluded to the benefit that a trust might have made to the affairs of some people. 'When the seventh Marquess of Bristol dubbed by the Oxford Dictionary of National Biography with the simple epithet of “wastrel” died in 1999 it was discovered that he had left almost nothing remaining from an estate that had been estimated to be worth some £40 million. Even as The Times gloated “Junkie marquess died penniless after spending millions on drugs” the dictionary was more phlegmatic commenting that the true fatality lay not in the genes rather in too much money too early'.

Tax and temptation

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