There are a number of solicitor practices promoting asset protection trusts and claiming that RNRB will still be available.
They are generally all settlor interested IIP trusts , income payable to settlor for life. It is accepted that they are GROBs.
In an attempt to preserve the RNRB I have seen a number of different courses of action stipulated on the death of the Settlor so that sufficient assets pass to a linear descendant, ranging from a simple gift over to linear descendant to much more complex arrangements.
It appears to me however that the initial GROB is to the Trustees of the settlement and will automatically fall foul of s8j(6) regardless of the subsequent gifts to lineal descendants.
Have they overlooked this or am I missing something ?
Northwood Banks & Co Ltd