Excluded Property Trusts have traditionally been used as atrust-based inheritance tax planning arrangements for individuals who are resident in the UK but who are not yet domiciled within the UK. However, recent changes to the legislation have resulted in further possible inheritance tax charges for this form of trust.
This month, Leila Allger, Head of Private Client Tax at Throgmorton UK Limited (An Apex Group Company) writes for Accountancy Today, discussing the benefits and uses of Excluded Property Trusts and the new changes that accountants need to be taking into consideration.
Leila answers the questions the industry is asking including:
- What are Excluded Property Trusts (EPTs)?
- What are the tax benefits of EPTs?
- What are the recent changes to EPTs?
- What do accountants need to do in response to these changes?
