It enacts the 2006 Budget speech made by Chancellor of the Exchequer Gordon Brown to the Parliament of the United Kingdom.

In the UK, the Chancellor delivers an annual Budget speech outlining changes in spending, tax and duty.

The Act made changes to the treatment of trusts for Inheritance Tax purposes.

[2] Specifically, it removed the exemption from inheritance tax for accumulation and maintenance trusts.

[3] The Finance Act 2006, Section 28 (Appointed Day) Order 2008 (S.I.