In previous budgets and announcements, the government stated they would alter the way trusts were taxed. The recent summer budget of 2015 confirmed those changes in the presentation of new rules. The use of numerous nil rate band trusts with their own, individual nil rate band – currently £325,000 for...
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Tag Archives: pilot trusts
Budget 2015: Trusts (Pilot Trusts)
Posted in: News | , by AshtonGrace
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The government has changed the taxation of trusts which particularly impacts the future use of pilot trusts. Pilot trusts are used for all types of planning and are usually flexible, discretionary trusts that lay dormant until further funds are added. Generally, a settlor establishes a number of pilot trusts and...
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