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Old 22.04.2020, 17:44
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

Quote:

Why do you keep telling me about taxation in the UK? I know this stuff. My point was, to kind of follow a thread from yours is, that trust funds are not earned, they are bestowed/inherited. The beneficiary pays tax but the funds they pay the tax on have not been earned by them. Whatever they left with, after CGT, IHT etc ( and you're not telling me they won't have taken advantage of all kinds if fancy write-off footwork) is, essentially, free money. Money they, personally, have done nothing to earn. Apart from the being born thing.
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So what if it is inherited?

There are no fancy right off's, no free money.

The reason for a trust is to protect assets from divorce & spend thrift family members rather than saving tax.
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