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Trusts and non doms: toughening the inheritance tax rules

The use of excluded property trusts by non-doms for tax planning purposes under Inheritance Tax Act 1984, s48(3) (IHTA 1984) is a well-accepted route, but now the old established rules have been overturned with tougher inheritance tax rules introduced in Finance Act (No. 2) 2017. Stephanie Webber CTA, tax writer at Croner-i explains

The use of excluded property trusts by non-domiciled individuals is well-known, particularly under Inheritance Tax Act 1984, s48(3) (IHTA 1984) but now the old established rules have been overturned as changes made in Finance Act (No. 2) 2017 (FA (No.2) 2017), mean that previous assumptions about what is and is not excluded property need to be re-examined.

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