Can anyone confirm how a US Totten Trust bank account would be treated for IHT in the UK? It was set up in 2006 and the bank form refers to it as being in trust for X and Y. It was taxed for income tax on the Settlor.
Can anyone confirm how a US Totten Trust bank account would be treated for IHT in the UK? It was set up in 2006 and the bank form refers to it as being in trust for X and Y. It was taxed for income tax on the Settlor.