D. O. V and 10 year charge

[worden]

Please can someone clarify ---getting confused

When a discretionary trust is created under a deed of variation does the 10 years for the purpose of the 10 year anniversary charge run from the date of death of the deceased or the date of the deed of variation?.
who is the settlor for any trust created under a deed of variation? Is it the deceased or is it the original beneficiary ??

Any input greatly appreciated Tax forms are a nightmare !!

Thank you

[AGoodman]

Date of death (but if the funds were not discretionary until the DOV this is taken into account in the tax calculation).
The deceased is the settlor for IHT and CGT purposes if you make the necessary elections under the DOV.

[worden]

Thank you very much Goodman for your kind reply , which answers my question. However can u please elaborate on( but if the funds were not discretionary until the DOV this is taken into account in the tax calculation).??

The "funds" in question is a half share of a house which was put into a discretionary trust by dov some 18 months after death of the settlor. I was reckoning on just calculating 6% on excess of the nil rate band to the now value rate. >?? not sure what your statement means ??

very grateful for your input !

[AGoodman]

Yeah, actually, as it's a DOV rather than an appointment of some kind, it would be read back to the death and treated as discretionary for the entire ten year period. Ignore my comment there.