Commentary

I1.530 Reversionary interests and settlement powers

IHT, trusts and estates

I1.530 Reversionary interests and settlement powers

I1.530 Reversionary interests and settlement powers

As a person who is beneficially entitled to a beneficiary-taxed interest in possession in settled property is treated for most IHT purposes as if he were the absolute owner of the settled property, and other settled property is taxed on the underlying settled property, it is only right that reversionary interests (ie any future interest in settled property — see I5.701) should not be charged to IHT. Reversionary interests are thus normally excluded property, left out of account in determining the existence and extent of a lifetime transfer of value or the extent of

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