Commentary

I5.646 Compensation funds and IHT

IHT, trusts and estates

I5.646 Compensation funds and IHT

Miscellaneous other favoured trusts

I5.646 Compensation funds and IHT

None of the charges relating to discretionary and other trusts apply to a trade or professional compensation fund or to an asbestos compensation settlement.

A trade or professional compensation fund is defined as a fund which is maintained or administered by a representative association of persons carrying on a trade or profession and the only or main objects of which are compensation for, or relief for, losses or hardship incurred, or likely to be incurred, through the default or alleged default of persons carrying on the trade or profession or

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