Commentary

I12.408 Intangible property and settlor interested trusts

IHT, trusts and estates

I12.408 Intangible property and settlor interested trusts

I12.408 Intangible property and settlor interested trusts

A distinct head of charge is included in the legislation relating to intangible property held on settlor interested trusts1. For the purposes of the relevant provisions 'intangible property' means property other than chattels or interests in land2. These provisions apply where:

  1.  

    (i)     the settled property includes intangible property which is (or represents) property settled or added to the trust after 17 March 1986; and

  2.  

    (ii)     the income of the trust is attributable to the settlor by virtue of ICTA 1988, s 660A and which would remain so attributable even if the reference to

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