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Excluded property trusts

Changes to EPTs will shortly be enacted in Finance Bill 2020 and consequently additions of property, at a time the settlor had become UK domiciled or deemed domiciled, will not be excluded property and so will be within the UK IHT net. There are concerns that the new legislation may lead to unintended consequences. In particular, some transfers between trusts after the settlor has become deemed or actually domiciled in the UK may cause property to be caught by the gift with reservation rules. If you set up an excluded property settlement and have since become UK domiciled or deemed domiciled, it may be advisable to seek a 'health check' of your trust in light of these rules. 

July 2020

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London Bankside

Bankside Office

240 Blackfriars Road
London
SE1 8NW
DX 53 Chancery Lane

Telephone: +44 (0)20 7629 7411
Fax: +44 (0)20 7629 2621
Email: bh@boodlehatfield.com

London Mayfair

Mayfair Office

6 Grosvenor Street
London
W1K 4PZ

Telephone: +44 (0)20 7629 7411
Fax: +44 (0)20 7629 2621
Email: bh@boodlehatfield.com

Oxford

Oxford Office

6 Worcester Street
Oxford
OX1 2BX

Telephone: +44 (0)20 7629 7411
Fax: +44 (0)20 7629 2621
Email: bh@boodlehatfield.com

Bankside Office

240 Blackfriars Road
London
SE1 8NW
DX 53 Chancery Lane

Telephone: +44 (0)20 7629 7411
Fax: +44 (0)20 7629 2621
Email: bh@boodlehatfield.com

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