What the HMT trust exemption will mean for life cover

Ruth Gilbert explores

clock • 6 min read

As the tide recedes on the trust registration threat, all is not plain sailing

Life insurers and advisers were able to breathe a collective sigh of relief, as reported in COVER last Friday, when the Treasury (HMT) published the long-awaited technical consultation covering more detailed proposals for registration of trusts. The headline news was that the much hoped for exemption for pure protection, whether group or individual, is to be granted. However, our work in this area is far from over. Exemption nearly there, but not quite HMT have confirmed pure protection trusts are to be exempted, accepting that registration would be disproportionate to the risk of money...

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