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Where Taxpayers and Advisers Meet

Iht 100a and iht100b

Jai
Posts:1
Joined:Wed Apr 21, 2021 12:26 am
Iht 100a and iht100b

Postby Jai » Wed Apr 21, 2021 12:37 am

I was a beneficiary of a life assurance which I only just found out about on 2020 December.
The trustees claimed the assurance policy in 2012 and terminated my position as beneficiary without anyone knowing.
They set up a discretionary trust with the funds and made me a settler and used my nil rate band and reserved funds just incase I died within 7 years .
The discretionary trustees have created a tax problem while doing this to me and other beneficiaries.
Many thanks
Jai

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Iht 100a and iht100b

Postby AGoodman » Thu Apr 22, 2021 5:20 pm

1/ do you have a question there?
2/ you're going to have to give more information - were you an adult in 2012? How did they make you a settlor without you even knowing about it? what is the tax problem?


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