Commentary

I5.141 Definition of an interest in possession

IHT, trusts and estates

I5.141 Definition of an interest in possession

Interest in possession (IIP)

I5.141 Definition of an interest in possession

The concept of an interest in possession is a crucial one to the IHT treatment of settled property. After 21 March 2006 the question of whether there is an interest in possession for IHT for purposes is only likely to be relevant if that interest in possession is also a qualifying one (QIIP — see I5.203). However, before it can be ascertained whether there is a QIIP, it must be ascertained whether there is an interest in possession.

The following articles (I5.142 onwards) discuss what consists of an

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