March 2015

Spring Budget 2015 – New rules for multiple trusts

As announced in the December 2014 Autumn Statement, legislation will provide new rules about adding property to trusts on the same day, to target Inheritance Tax avoidance through the use of multiple trusts (based on the principles established in the Rysaffe case and commonly known as pilot trusts), which could mean that each pilot trust had its own nil rate band without reference to the other trusts.