Commentary

I5.741 Powers over settled property

IHT, trusts and estates

I5.741 Powers over settled property

Powers of appointment (or 'settlement powers')

I5.741 Powers over settled property

Powers of appointment (or 'settlement powers') are excluded from the general definition of 'property' for the purposes of IHTA 1984 for transfers of value after 16 April 2002, and deemed transfers of value on death on or before that date, with the consequence that they are left out of account for IHT purposes (see I5.742). A settlement power is defined1 as 'any power over, or exercisable (whether directly or indirectly) in relation to, settled property or a settlement'. Furthermore, the definition of 'property' (in IHTA 1984, s 272)

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