Commentary

I5.302 Summary of relevant property regime

IHT, trusts and estates

I5.302 Summary of relevant property regime

I5.302 Summary of relevant property regime

Where a settlement falls into one of the categories listed at I5.301, there is an IHT charge on 'relevant' property (I5.303) in the settlement:

  1.  

    •     on a ten-yearly basis (the 'principal charge' or 'periodic charge') where the property remains within the trust (I5.304). The charge takes into account property which has previously left the trust and gifts made by the settlor before the trust property was settled in a similar fashion to the rules for charging tax on chargeable transfers made by individuals

  2.  

    •     when it ceases to be subject to the trust (the

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