Letter of Wishes – Providing Guidance

A letter of wishes is not intended to be legally binding but merely to offer guidance. To help avoid any possibility of misinterpretation, the letter will often contain an acknowledgement that its provisions are not binding. Furthermore, it will preferably be signed...

The Autumn Statement – Multiple Pilot Trusts

The Treasury has abandoned its proposal to introduce a single inheritance tax (IHT) nil-rate band (NRB) to be divided between all of an individual settlor’s trusts. The proposal was published in June this year, as part of a package advertised by HM Revenue and Customs...