DGT tax on death of settlor - Technical Question
Hi there, we have a client who has a discounted gift trust (onshore). The settlor has now died (7 years done). her two daughters were also lives assured. If they surrender in the same tax year as the settlors death, what would be the tax treatment?
Our understanding it would be on the Settlor, which is handy because she died early in the tax year.
thanks in advance.