Excluded Property Trust
The trust is designed for clients who are currently non-UK domiciled, but may in the future become UK domiciled or treated as such for inheritance tax (IHT) purposes. The trust is set up while the client is non-UK domiciled, but the assets in it will remain excluded from UK IHT even if the client's domicile changes.
It may also be used by those who are not UK domiciled themselves, but may have beneficiaries who are. After the client's death, any assets that remain in the trust will continue to be excluded property and will not form part of the beneficiaries' estates for IHT purposes.
Key benefits of the Excluded Property Trust
- Access to the trust investments at any time
- Full control over the investments in the trust
- Opportunity to take tax-efficient withdrawals
- No UK IHT to pay on investments in the trust (assuming these comprise Prudential International bonds)
- A choice of Prudential International bonds, which provide access to the fund management skills of the Prudential Group and other leading fund managers
The impact of any taxation (and any tax reliefs) depends on individual circumstances.