Y3822 - Inheritance Tax: Namecos and Funds at Lloyd's

Market bulletin Y3161 of 14 October 2003 dealt with the inheritance tax treatment ofFunds At Lloyd’s that are provided by the owner of a Nameco or take the form of abank guarantee secured on the owner’s personal assets (here called “third party FALassets”). That bulletin noted that HM Revenue & Customs (HMRC) had agreed toconcessionary treatment to such assets up to 31 December 2004. HMRC have nowagreed to our request to extend this concessionary period up until 31 December 2006. 31 M