Been asked to look at a series of life policies in trust which were created by 1 settlor prior to March 2006 (qualifying IIP) and there were 2 initial life tenants. Trustees have then appointed new default beneficiaries after March 2006 - still in trust and appointment is revocable so we have clt’s by the 2 life tenants - am aware that for the purpose of 10YA charge we use the original date of trust creation but when it comes to the calc are the life tenants treated as settlor so will there be 2 x 325k to use in the 10YA calc or is the original settlor treated as settlor as he provided the funds and so only one nil band to use? Thanks in advance