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Platform to extend trust range

FundsNetwork is designing a further range of trusts for use with its offshore and onshore investment bond and fund offerings.

The platform has hired former Prudential taxation and trusts manager Paul Kennedy to oversee the new products.

A discretionary will trust, a discounted gift trust and a loan trust will be rolled out by the start of April. These will sit alongside its bare gift and discretionary gift trusts which have been available on the platform since January.

FundsNetwork has also been working with tax specialist Technical Connection and two major City law firms to develop the trusts.

Head of marketing Rob Fisher says: “Inheritance tax planning is becoming more of an issue for many customers. We are coming at it from a platform viewpoint to give more flexibility to advisers and to provide multi-asset trusts.”


VCTs oversupplied as demand slumps

VCT supply is expected to be more than double the demand this tax year.The 23 venture capital trusts launched this year have capacity for £430m but industry experts are only predicting inflows of £200m following the Chancellor’s tax relief changes.Total VCT subscriptions for the 2006/07 tax year have only reached £41.47m so far compared with […]


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