Commentary

I5.644 The applicable IHT rate for charitable trusts

IHT, trusts and estates

I5.644 The applicable IHT rate for charitable trusts

I5.644 The applicable IHT rate for charitable trusts

The rate of tax charge under the provisions detailed at I5.643 is determined by the length of the 'relevant period'.

Relevant period

This is defined in most cases as the period ending with the day before the event giving rise to the charge and beginning with the later of:

  1.  

    •     the day on which the property being charged to tax became (or last became) property to which IHTA 1984, s 70 applies, and

  2.  

    •     13 March 19751

However, if the property in respect of which tax is chargeable was relevant property2 (see I5.303) immediately before 10 December 1981, and became property to which these rules apply on or after 10 December 1981, and before 9 March 1982, the relevant period is differently defined. In this case the relevant period begins with the later of:

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