The original content of this article has been affected by the UK Autumn Budget 2024 Announcement. Please be advised that the information in this article regarding QNUPS and IHT has been reviewed in June 2026, following the recent HMRC May 11th Technical Note (IHT on Pensions), which outlines the tax treatment of QNUPS for non-UK…
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There are a few types of trusts, and each type has its own advantages and disadvantages, which you should discuss thoroughly with Soteria Trusts advisor before setting one up. Bare Trust The person who sets up a Bare Trust (the Settlor) should be certain that the assets they set aside will go directly to the…
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A Trust is a mechanism whereby one person (the ‘settlor’) may give away the enjoyment of assets to a group of individuals (the ‘beneficiaries’), while control and decisions on the administration and investment of those assets lie with others (the ‘Trustees’). The Settlor is the person who provides the assets of the trust. Unless he…
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