Commentary

53 Inheritance tax—reversions

CHOSES IN ACTION vol 7
| Commentary

53 Inheritance tax—reversions

| Commentary

53 Inheritance tax—reversions

Reversionary interests1, as opposed to interests in possession2, are in general excluded property, and as such not taken into account in determining the value of a person’s estate immediately before a transfer of value3.

A reversionary interest is not excluded property if it has been acquired for a consideration in money or money’s worth by the person presently entitled to it or any person previously entitled to it4, or if it is one to which the settlor or his spouse or civil partner is or has been beneficially entitled5,

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