We have reported before that the Government has been looking closely at the taxes levied around property ownership. This is probably because taxation has not kept pace with the huge rises in property values.
One proposed measure will affect those people that put their property in trust for their family. This is because the Treasury believe that those people are trying to avoid tax, especially if they still live in the property.
Our View
The Government needs to increase their revenue from the general population and this is at least one way to do it. There has also been talk that any tax introduced could be retrospective, meaning that anyone that put property in trust for his or her families before 6 April 2005 will be affected.