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IHT forms for resettled trusts

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Joined: Wed Aug 06, 2008 3:28 pm

IHT forms for resettled trusts

Postby beckied » Thu Apr 20, 2017 1:03 pm

IHTA 1984, s81 treats property transferred to new settlement as remaining in first settlement for IHT purposes. Therefore if I have a 1990 discretionary settlement which due to family split in 2007 resettled half of the trust property into a new discretionary settlement (our client) who completes the IHT100 at 10 year anniversary? Does each trust do one but then how do you apportion IHT nil rate band? Does the other trust (as the oldest trust) complete it with info from our client re values in the new settlement. How do we account for additions (say of income) to capital in other trust that we may not know about when capital exiting our trust? Presumably it is a case of seeking info from other trustees on an ongoing basis? Any advice/thoughts gratefully received!

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