| Commentary

105 Deeds of variation

| Commentary

105 Deeds of variation

The special rules for deeds of variation falling within the Inheritance Tax Act 1984 Section 142(1), and specifically the ‘reading-back’ effect1, enable a tax-saving deed of variation to be entered into2; for example, by partitioning residue on an actuarial basis between individual life tenants and charitable remaindermen. Care is needed in such cases, however, to ensure that the parties are all identified and of full age and capacity. If the charitable interest needs to be represented (which is not the case if the deed is conferring benefits on a charity) and is not represented by a

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