Q&As

The testatrix was a life tenant of a property, further to a life interest trust created in her late huband's will. Upon her death, the property passes to her children. There is no IHT payable on the testatrix's estate, which includes the value of the property, so does an IHT100 still need filing?

read titleRead full title
Published on LexisPSL on 21/06/2017

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • The testatrix was a life tenant of a property, further to a life interest trust created in her late huband's will. Upon her death, the property passes to her children. There is no IHT payable on the testatrix's estate, which includes the value of the property, so does an IHT100 still need filing?

The testatrix was a life tenant of a property, further to a life interest trust created in her late huband's will. Upon her death, the property passes to her children. There is no IHT payable on the testatrix's estate, which includes the value of the property, so does an IHT100 still need filing?

It is assumed that the life tenant’s interest was an ‘immediate post-death interest’ and thus a qualifying interest in possession—for further details, see Practice Note: The meaning of qualifying interest in possession. Under these circumstances the life tenant’s personal representatives are required to report the details of the interest under the trust to HMRC using form IHT205 or IHT400 (and

Related documents:

Popular documents