This invaluable guide to the creation, administration and taxation of trusts has been comprehensively revised and updated to take account of: Perpetuities and Accumulations Act 2009; changes to the Inheritance Tax compliance and penalty regime; and changes to the Finance Act 2006. The book offers practitioners useful guidance on how to: create and use good systems to avoid potential negligence claims for failing to invest correctly; avoid penalties for missing tax deadlines or for incorrectly assessing tax bills; delegate trust management functions and comply with the regulatory regime for practitioners; and run an efficient trust department and improve profitability. An accompanying CD-ROM contains a range of useful forms and checklists from the book that may be customised.