Reply to post: Re: However ...

UK Land Registry opens books on corporate owners

Matt Ryan

Re: However ...

A trust if not a trick if it's perfectly legal. The beneficiary of the trust doesn't own the assets (that's the trust) so only benefits from any rents, income etc that the trust pays out.

So for example, the fuss about the Duke of Westminster inheriting £9Bn without any inheritance tax is wrong as he doesn't - it's still owned by the trust.

He might get some money from it on an on-going basis (let's for argument say 5%) but he'll pay tax on that. The trust also has to pay our 6% of its entire asset value every 10 years in lieu of IHT so it doesn't avoid it. In fact 'we' get money earlier as you don't have to wait for him to die.

Not quite how it's made out in the media.

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