Commentary

I9.322 National savings contracts

IHT, trusts and estates

I9.322 National savings contracts

Other UK property which is exempt or excluded when in foreign ownership

I9.322 National savings contracts

Some types of national savings contracts are excluded property if the beneficial owner is domiciled in the Channel Islands or Isle of Man1. Thus, the savings contracts will be excluded property if they are held in a settlement in which there is an interest in possession, but not if they are held in a settlement in which there is no interest in possession2. 'Domicile', for this purpose, has its ordinary meaning, and not the extended meaning given to it for certain IHT purposes3.

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