These provisions will apply to any new schemes entered on or after 21 March 2012.
The secret to effective IHT planning is to keep the planning conceptually simple, non-contentious and fall within the terms and spirit of the legislation. Where schemes circumvent the rules, it is fair to expect that these schemes are expected to be caught by these changes in legislation. Since the early 1990’s HMRC, Treasury and the Government have been very clear on their outlook. Sometimes, the cost of these schemes and the associated legal battles more than outweigh the tax savings potential.
Always plan carefully
Any questions – my email is welshmoneywiz@virginmedia.com