Thousands of workers in the UK are facing an unexpected inheritance tax bill while still alive due to complex rules surrounding trusts.
Many of these schemes involved trusts, triggering inheritance tax liabilities when contractors settle their disputes with HM Revenue and Customs (HMRC).
GETTYThese arrangements often involved offshore trusts, which can trigger inheritance tax when money moves in or out.
Another shared their ongoing distress: "I had to pay inheritance tax in settlement to make the nightmare go away and were still living in fear of further tax demands.
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The Loan Charge and Taxpayer Fairness APPG, formed in 2019, has been vocal in criticising the "draconian" nature of the loan charge and its inheritance tax implications...
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