Commentary

I7.541 Maintenance funds—overview

IHT, trusts and estates

I7.541 Maintenance funds—overview

Maintenance funds

I7.541 Maintenance funds—overview

A transfer, by an individual or a company, or on the termination of an interest in possession under a settlement, to a maintenance fund is an exempt transfer if made after 8 March 1982, and relevant property which becomes subject to the maintenance fund rules is exempt from the normal exit charge (see I7.544).

Application for exemption should be made to the Designated Property Section of Capital Taxes. The application, if it relates to a transfer of value made after 16 March 1998, must be made no later than two years after the date of

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