Accumulation and maintenance trust

This term has two meanings:

This is because most trusts for children under 25 were designed to fall within section 71 of IHTA 1984 before it was amended by FA 2006. It is no longer possible to create a new trust that falls within section 71 as amended.

A trust meets the current requirements of section 71 if:

For information about how A&M trusts are taxed, see Practice note, Taxation of UK trusts: overview ( www.practicallaw.com/0-383-6634) .

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