The following Trusts and Inheritance Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note looks at the specific gifts with reservation rules regarding:
These additional rules are to be found in FA 1986, Sch 20.
It also considers the gift with reservation (GWR) consequences when a person redirects property he has inherited under an instrument of variation.
Special rules apply where a donor reserves a benefit in a gift which qualifies for BPR or APR. The availability of those reliefs depends on:
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