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If a life tenant of a Will trust executes a deed of surrender within two years of the death of the testator, will the value of the IIP be deemed a PET for the life tenant?

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Published by a LexisNexis Private Client expert
Published on: 24 March 2023

Under section 93 of the Inheritance Tax Act 1984 (IHTA 1984), it is possible to disclaim or surrender an interest in settled property where the settlement was created by Will. A condition of a valid disclaimer under IHTA 1984, s 93 is that no consideration

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United Kingdom
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