Commentary

I5.1227 Property originating from a settlor

IHT, trusts and estates

I5.1227 Property originating from a settlor

I5.1227 Property originating from a settlor

When does property originate from a settlor?

It is essential to determine whether property originates from a settlor as:

  1.  

    •     only gains relating to such property are subject to the settlor charge1, and

  2.  

    •     a defined person only has an interest in a settlement if they can enjoy a benefit from such property2

Property and income (including any accumulated income from that property3) originates from a person if it is4:

  1.  

    •     provided by him, whether directly or indirectly5

  2.  

    •     property representing that property6, for example where the original trust property has been sold and the proceeds

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