Law Society Attacks Budget on Trusts

Taxation of Trusts - Act Now on Budget Bombshell
Law Society Action
3 April 2006
The budget made important changes to the taxation of trusts. The
changes will hit ordinary people hard and the Law Society is
urging the government to postpone implementation until the full
impact is understood.

Inheritance Tax Survey of Solicitors

Tell us how these changes will affect you and your clients by completing our short survey.

Fill in the inheritance tax survey:
http://www.lawsociety.org.uk/survey.law?poll=Inheritance!survey

Finance Bill 2006 - Explanatory Notes
Treasury Website
7 April 2006
If you can plough your way through these enormous PDF documents
you are a better lawyer than I will ever be.  Go to page 120 of
the third volume (Clause 157 and Schedule 20) for information
about the treatment of accumulation and maintenance trusts.

Law Society Statement – the Finance Bill
Law Society Press Release
7 April 2006
"This is tantamount to retrospective legislation because there has
been no consultation and no debate. We still hope the government
will postpone implementation, conduct a proper assessment so they
can appreciate the full implications."