ATT responds to HMRC Taxation of Trusts consultation
Released 27 February 2019
The Association of Taxation Technicians (ATT) has published its response to HMRC’s Taxation of Trusts consultation.
The consultation issued by HMRC on 7 November 2018: The Taxation of Trusts: a Review, set out the principles for taxing trusts and requested views and evidence on reform in line with them. In its submission, the ATT emphasises that trusts are a useful and flexible tool for many families to provide protection for children and other vulnerable beneficiaries. Trusts are often the only means of providing an effective transfer of assets between different generations of blended families. The ATT is calling for a reduction of the burdens on smaller, family trusts, insisting that such trusts are often about asset protection and not tax avoidance.
View the submission at The Taxation of Trusts: A Review - ATT response.