I’ve become confused with the post 2015 changes in respect of multiple trusts established by the same settlor. In this instance the clients established a discretionary trust in 2013 and are keen to settle additional property for the benefit of family. Administrative ease and favourable tax rules for adding to existing offshore bonds suggests topping up the existing one, but I think that the post 2015 changes would mean that a new trust would benefit a whole new nil rate band. The first option has income tax advantages whereas the second one appears to have IHT advantages. Am I missing something?
CBW Financial Planning