Legal background to trusts & estates: anti-avoidance provisions: settlements
ICTA 1988 Part XV
It might be possible to get tax advantages by making a trust. The Taxes Acts include provisions to stop this. Details are at TSEM4000 onwards.
The anti-avoidance provisions apply to all settlements, other than those set up by a will. The word settlement has a very wide meaning. For tax purposes it includes
- deeds of covenant
- transfers of assets.