Key takeaways
- Understand what a Discretionary Trust is and its most common uses
- The tax treatment of Discretionary Trusts
- Understand what an Interest in Possession trust is and their most common uses
- Setting up an Interest in Possession trust and their tax treatment post-2006
- Examples of situations where the Transitional Serial Interest arises
- Understand what a Bare Trust is and when it is used
- Understand the administration duties associated with a Bare Trust
- Understand the tax treatment of Bare Trusts
- Understand what a trust is and their most common uses
- Describe setting up a trust and the tax treatment of trusts
