Commentary

I5.630 Qualifying conditions—overview

IHT, trusts and estates

I5.630 Qualifying conditions—overview

Employee trusts

I5.630 Qualifying conditions—overview

An employee trust (within IHTA 1984, s 86) is one which either indefinitely or until the end of a period (which may be defined by a date or in some other way) do not permit any of the settled property to be applied otherwise than for the benefit of persons of a class defined by reference to1:

  1.  

    •     employment in a particular trade or profession2. This would cover employees of the same trade or profession who have different employers

  2.  

    •     employment by, or office with, a body carrying on a trade, profession or undertaking3. This would cover employees of the same company although they may undertake

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