Hello
Would be grateful for thoughts on the following scenario:-
Trust established by Settlor in 2002 for the benefit of his 2 children. Old style A & M Trust, nothing done to re-structure it post March 2006. On attaining age 25 each beneficiary will acquire an interest in possession in his share of the trust funds, the extent of that share being determined by the trustees.
First child will attain age 25 shortly. Trust funds have huge gain. Trustees are considering winding up trust and CGT consequences of this are under consideration. As the trust is now a relevant property trust, presumably on winding up whether before or after age 25 CGT hold over would be available?
Thank you
Rows Mum
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