1026. Rate Of Ten Yearly Charge. | Taxation Law | LexisNexis

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1026. Rate of ten yearly charge.

The rate at which tax is charged on a ten-year anniversary¹ at any time is three tenths of the effective rate² at which tax would be charged on the value transferred by a chargeable transfer of the description provided in the relevant statutory provions

(4) Settled Property

999. Types of settlements and inheritance tax liability.

1000. Meaning of 'settlement'.

1001. Lease treated as a settlement.

1002. Life assurance contracts entered into before 22 March 2006.

1003. Commencement of settlement.

1004. Meaning of 'interest in possession'.

1005. Treatment of an interest in possession.

1006. Immediate post-death interest.

1007. Disabled person's interest.

1008. Transitional serial interest.

1009. Administration period.

1010. Entitlement to part of income.

1011. Entitlement to fixed income.

1012. Joint use or enjoyment of settled property.

1013. Employee and newspaper trusts.

1014. Charge to tax on termination during lifetime.

1015. Disposal of an interest in possession.

1016. Exceptions from charge on termination.

1017. Termination on death.

1018. Special rate of charge where settled property affected by potentially exempt transfer.

1019. Meaning of 'relevant property'.

1020. Commencement of settlement in pursuance of a will or intestacy.

1021. Initial interest of settlor or spouse or civil partner.

1022. Transfers between settlements.

1023. Same-day additions.

1024. Meaning of 'ten-year anniversary'.

1025. Charge at ten-year anniversary.

1026. Rate of ten yearly charge.

1027. Charge at other times: proportionate charge.

1028. Property becoming subject to employee trusts or charitable property.

1029. Rate of charge before first ten-year anniversary.

1030. Rate of charge between ten-year anniversaries.

1031. Charitable trusts.

1032. Accumulation and maintenance trusts.

1033. Trusts for bereaved minors.

1034. Age 18-to-25 trusts.

1035. Property leaving employee and newspaper trusts.

1036. Pre-1978 protective trusts, pre-1981 trusts for disabled persons and self-settlement by disabled persons.

1037. Maintenance funds.

1038. Excluded property.

1039. Reversionary interest acquired by beneficiary.

1040. Purchase of reversion.

1041. Purchased settlement powers.

1042. Arrangements involving acquisition of interest in settled property.