Commentary

I5.258 QIIPs and excluded property or foreign bank accounts

IHT, trusts and estates

I5.258 QIIPs and excluded property or foreign bank accounts

I5.258 QIIPs and excluded property or foreign bank accounts

Where settled property subject to an interest in possession is excluded property IHT is not charged on it1 if the interest comes to an end during the life of the person entitled to it2 even if it is a qualifying interest in possession. It is not, therefore, included in his estate immediately before his death for the purposes of the IHT charge consequent upon death3.

There is no IHT charge on the death of a life tenant not domiciled or resident in the UK (provided the settlor was not domiciled in the

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