Part 5 of the Capital Acquisitions Tax (CAT) manual has been updated to take account of the amendments made to Discretionary Trust Tax (DTT) by Finance Act 2012.

Finance Act 2012 introduced the following amendments to discretionary trusts created by a person's will where that person died on or after 8 February 2012:

• Where a discretionary trust is provided for in a will, the trust is to be treated for DTT purposes as constituted from the date of the disponer's death.
• The trigger date for the initial charge to DTT (6%) and for the ongoing annual 1% charges has been brought forward from the date of the Grant of Probate to the date of the disponer's death.
• DTT has been extended to cover “foundations” (the European equivalent of trusts).

The CAT manual has been updated at part 5 to reflect the above amendments and is available on the Revenue Website under: Taxes and Duties-Capital Acquisitions Tax – Tax & Duty Manuals or at the following address http://www.revenue.ie/en/about/foi/s16/capital-acquisitions-tax/cat-part05.pdf?download=true