A. Pre 22 March 2006 A&M Trusts may have become a “new” S71 IHTA 1984 A&M Trust or an 18 to 25 Trust or a Relevant Property Trust on 6 April 2008 (the exception is where all beneficiaries acquired an interest in possession by 22 March 2006 and so none of the trust property falls within the new regime – unless changes are made).
As all trusts are different, the facts have to be established to determine which type of trust you have. Only Relevant Property trusts are liable to the ten-year anniversary charge and the date is still linked to the date the trust started. Therefore, the first ten-year anniversary charge possible in this case is 20 March 2015.
If you have a tax query, why not contact the Tax Advice Line on 0844 892 2470 to discuss it. Our team of experts have a wealth of experience and can also provide a written consultancy service at £180 per hour plus VAT.
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