Commentary

I12.306 Settled property

IHT, trusts and estates

I12.306 Settled property

I12.306 Settled property

The inclusion of a settlor among the class of beneficiaries under a discretionary power or trust is a straightforward gift with reservation, as is a power on the part of the trustees to add beneficiaries including the settlor. Practitioners will be aware that there are also disadvantages for CGT and income tax should the settlor or his spouse not be entirely excluded from benefit (see in particular ICTA 1988, Pt XV, TCGA 1992, ss 77 and 86 and the new pre-owned assets charge on intangibles held on settlor interested trusts).

It should be noted that the general scheme

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