Commentary

I5.306 Related settlements

IHT, trusts and estates

I5.306 Related settlements

I5.306 Related settlements

In making a charge to IHT for a settlement without a qualifying interest in possession (QIIP — I5.203), the value of any related settlement must be taken into account (see I5.311, I5.351). This is so whether or not the property comprised in the related settlement was subject to a QIIP or to favoured trusts.

Two settlements are related if they both commenced on the same day and have the same settlor1, unless:

  1.  

    •     one or both of them was, immediately after the settlement commenced, held for charitable purposes only without limit of time (defined by date or otherwise)2,

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