Brown moves on trusts to allay fears

Brown moves on trusts to allay fears

Treasury tries to defuse row over trusts

Chancellor Gordon Brown is reported to have toned down measures to reform
trusts, which he announced in the Budget.

The Treasury said yesterday that the finance bill, which is published today,
will make it clear that relatives of people who die without making a will would
not be caught out by tax charges.

Trusts specialists have warned the new measures could affect millions of
people, although the Treasury has challenged this saying it will only hit the
very wealthy.

Brown announced a change to the tax treatment of trusts in the Budget which
aligned the IHT treatment, applying new tax charges to maintenance and
accumulation trusts.

The Treasury is reported in the Financial Times to have kept the
basic proposals intact.

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