Commentary

I5.1157 Charge to tax on the trustees of heritage property

IHT, trusts and estates

I5.1157 Charge to tax on the trustees of heritage property

I5.1157 Charge to tax on the trustees of heritage property

A settlement constituting a maintenance fund may provide for property forming part of the fund to be applied otherwise than for these objects after an initial period of six years from the date the property entered the fund1 — see I7.541–I7.545.

Accordingly, where property which forms part of a maintenance fund is applied otherwise than for the maintenance of qualifying property or for the benefit of a charity or listed body, or passes to a person other than a charity or listed body, or where the heritage direction ceases to have

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial