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Help with trust rules

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lockerbie35

lockerbie35 Posts: 4 Newbie

First Post

First Anniversary

28 May 2019 at 2:22PM in Savings & investments

Hi all

thanks in advance for your help.

a family member died recently and left their pension to bypass trust. (discretionary)

they also left their estate to a family trust. (discretionary)

my question is whether these trusts are connected from the tax allowances point of view.

thanks again

0

Comments

AnotherJoe Posts: 19,622 Forumite

28 May 2019 at 2:25PM

AIUI pensions are usually outside of IHT.
This might be better asked in the death and probate forum.

0
xylophone Posts: 45,600 Forumite

28 May 2019 at 4:11PM

their pension to bypass trust

Like this?

https://www.financialadvice.net/spousal_bypass_trust_explained/zone/7710

they also left their estate to a family trust. (discretionary)

https://www.gov.uk/trusts-taxes/types-of-trust

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lockerbie35 Posts: 4 Newbie

29 May 2019 at 1:27PM

yes like those links

if the funds are invested and make income/gains do they share the annual allowances?

thanks

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xylophone Posts: 45,600 Forumite

29 May 2019 at 3:11PM

https://www.gov.uk/trusts-taxes/trusts-and-income-tax

https://www.gov.uk/trusts-taxes/trusts-and-capital-gains-tax

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