Commentary

I7.351 Introduction to APR and trusts

IHT, trusts and estates

I7.351 Introduction to APR and trusts

APR and settled property

I7.351 Introduction to APR and trusts

For the purposes of IHT there are two main types of settled property — settled property subject to qualifying interest in possession (QIIP — see Division I5.2) to which an individual is beneficially entitled, and settled property within the relevant property regime (see Division I5.3).

Both categories can qualify for APR, but the differences in the way they are charged to IHT mean that there are significant differences in how they qualify for the relief. QIIPs are treated as if it were the property of the person with

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