Family Partnerships

Macfarlanes LLP

Edward Reed, Robin Vos

Family partnerships are a hot topic at the moment. This is not surprising considering that the funding of a trust will now (except in limited circumstances and, unless the value of the assets settled in trust is within the settlor's inheritance tax nil rate band) result in an upfront inheritance tax charge, with periodic inheritance tax charges becoming payable on every ten year anniversary of the trust and when capital is distributed from the trust.