Commentary

I5.926 Lifetime termination of an interest in possession

IHT, trusts and estates

I5.926 Lifetime termination of an interest in possession

I5.926 Lifetime termination of an interest in possession

The estate duty exemption for property passing on the death of the surviving party to a marriage where duty had been paid in connection with the death of the first party1, which is continued as a transitional relief from both CTT and IHT where the first death occurred before 13 November 1974 and the other party dies after 12 March 19752, also applies to the determination of the surviving spouse's beneficial interest in possession, otherwise than on death, for example a release of the surviving spouse's interest. IHT is not chargeable under

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