I have a settlement est 2002 as a self settled trust. Therefore discretionary in nature for Income tax but IHT = deemed IIP.
The settlor now wishes to close the trust and transfer the assets back to herself.
With IIPs this would be a PET - so does this create a possible double tax charge risk on her estate?
I am also assuming CGT will arise.
If you can add anything, I’d be grateful.
Lucy Orrow