Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Where do you reside? Once I know this I will be able to advise you further.
I concur with your view that you escape both CGT and IHT through a UAT, but I cannot help thinking that this loophole is ripe for closure.
Remember that when you transfer your assets into the UAT then a CGT charge will apply as the transaction would be deemed as a disposal and anything over the Annual Exempt Amount (AEA) 11.1K exposed to CGT.
No Beric; what I am saying is that although once in the UAT it will be tax free, on transfer into the trust the donor will be liable to CGT on any gain made between their original purchase price plus costs plus improvements and the disposal price less transfer costs. The transfer would be assumed to have been made at current market price.
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