Accumulation and maintenance trust

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Accumulation and maintenance ("A&M") trusts are a type of discretionary trust for the benefit of children and young people in England and Wales.

Development and tax treatment

The concept of an A&M

, which continued their special tax treatment.

The Finance Act 2006 took A&M Trusts out of the purview of s.71. Today, A&M Trusts are governed by Pt. III, Ch. III IHTA, and therefore receive exactly the same tax treatment as other types of discretionary trusts.^[1] As a result, the use of A&M trusts is declining rapidly. The new breed of "18–25" trusts are taking their place.

References

External links

• Inheritance Tax Act 1984