Commentary

I12.715 Let properties

IHT, trusts and estates

I12.715 Let properties

I12.715 Let properties

Another useful inheritance tax arrangement involving let properties is by virtue of provisions that state that there is no reservation of benefit where there is a disposal of a share of an interest in let land by way of gift1. Therefore where a settlor-interested trust contains only an interest in a let property, for example a 90% interest, there will be no reservation of benefit in relation to the trust by the settlor. Even if the land is purchased by the trustees in exchange for business property, (see I12.715), this will not prevent these rules from applying

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