Commentary

I7.161 BPR and settled property

IHT, trusts and estates

I7.161 BPR and settled property

Settled property

I7.161 BPR and settled property

For the purposes of IHT there are two main types of settled property: settled property subject to a qualifying interest in possession (QIIP), and settled property not subject to such an interest in possession (part of the 'relevant property' regime). Both categories can qualify for business property relief (BPR), but the differences in the way they are charged to IHT mean that there are significant differences in how they qualify for the relief.

A qualifying interest in possession is treated as if it were the property of the person with the interest

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