Commentary

I5.510 A&M trusts—qualifying conditions

IHT, trusts and estates

I5.510 A&M trusts—qualifying conditions

I5.510 A&M trusts—qualifying conditions

Since the Finance Act 2006, no trusts created or falling into possession on or after 22 March 2006 can be within the accumulation and maintenance (A&M) trust regime1. So the A&M rules cannot apply to settlements created on or after 22 March 2006 (made either inter vivos, or on death on or after 22 March 2006 by Will or on intestacy), or to settlements created before then where A&M come into possession on or after 22 March 2006, eg on the death of a life tenant or by way of appointment. But the A&M regime may

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