Settlor sentence example
The settlor adds a cross-reference in the ' Additional Information ' box on page 8 of the tax return.
There are also provisions to clawback hold over relief where a gift is made to a trust which subsequently becomes settlor interested.
Electing into GWR and then terminating the trust Para 22 of Sch 15 allows the settlor to make a GWR election.
The AEA is divided where there are several trusts created by the same settlor.
Does the cumulative total include PETs made by the settlor?Advertisement
If the settlor charge applies the settlor charge applies the settlor is charged in respect of the gains arising under these rules.
Currently, a trust settlor can set up a trust and need not make the beneficiaries aware of its existence.
A settlor in a will is usually called a testator.
Perpetuities The rule against perpetuities is, in effect, an overall time limit within which any direction by the settlor must take effect.
This has been achieved by using a reverter to settlor trust.Advertisement
If the settlor charge applies the settlor is charged in respect of the gains arising under these rules.
If the life tenant is the settlor 's spouse, then the PET will be an exempt transfer under IHTA 1984 s 18.
The executors of the settlor 's estate would have several options.
They will therefore be treated as the settlor 's income in appropriate cases.
Neither the settlor 's wife nor their issue were represented.Advertisement
The settlor 's tax office will deal with any tax overpaid.
The beneficiaries are the only ones entitled to bring legal action against the Trustee, not the Settlor in this case.
I am the settlor of a non-resident trust - can I set my personal capital losses against the trust gains attributed to me?