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Discretionary trust taxation

  • Taxation of discretionary trusts holding pure protection policies

    This guide will provide you with the information you require to advise your clients on the tax treatment of their life assurance/pure protection policy when subject to a discretionary trust.

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  • Quick reference guide 1 – Entry Charge (Chargeable Lifetime Transfers)

    This guide will provide you with the information you require to advise your clients of any tax due on a gift or number of gifts into relevant property trusts (discretionary trusts and other flexible trusts created since 22 March 2006). This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to entry charges.

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  • Quick reference guide 2 – Periodic Charge (10 year charge or Principle Charge)

    This guide will provide you with the calculation steps to enable you to advise trustees of any tax due on their trust along with reporting requirements. It also outlines the Inheritance Tax (IHT) treatment of types of trusts/planning solutions in relation to the periodic charge. This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to a periodic charge.

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  • Quick reference guide 3 – Exit charge (Proportionate Charge)

    This guide will provide you with the information you require to advise your clients of any tax due on distributions from relevant property trusts (discretionary trusts and other flexible trusts created since 22 March 2006). This guide does not apply to absolute/bare trusts or those with a qualifying interest in possession as these are not subject to exit charges.

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