– see also Settled property

Accrued income

Commentary – Tax Reporter ¶353-450
HMRC Guidance – TSEM3320 ; TSEM3325 ; TSEM3335 ; TSEM3340

Accumulation and maintenance settlements

Legislation/Regulatory – ESC F8

Administration of estate not completed

Legislation/Regulatory – IHTA84 s. 91 ; Misc. 119
HMRC Guidance – IHTM04376 ; IHTM12126 ; IHTM12176 ; IHTM16220 ; IHTM22011 ; IHTM22031 ; IHTM24101 ; IHTM25302 ; IHTM25321 ; IHTM27263 ; IHTM33062 ; IHTM34137 ; SVM108240 ; SVM111050

Annual exemption, application of

Legislation/Regulatory – IHTA84 s. 57(1), (3), (4)
HMRC Guidance – IHTM06113 ; IHTM16083

Beneficiaries

– see Beneficiaries

Close companies

Generally

Legislation/Regulatory – IHTA84 s. 101 ; SP E5

Participators

Legislation/Regulatory – IHTA84 s. 101

Creation

Capital distribution

Case Law – Stenhouse's Trustees v. Lord Advocate. [1984] BTC 8,026

Generally

Case Law – Swales and Others v. Inland Revenue Commissioners. [1984] BTC 8,079

Disclaimer

Legislation/Regulatory – IHTA84 s. 93

Disposal of interest

Legislation/Regulatory – IHTA84 s. 51

Disposition for money's worth

Legislation/Regulatory – IHTA84 s. 49(2)

Entitlement on wife's death, retained interest or disclaimer

Case Law – Cook & Anor (Executors of Watkins dec'd) v IR Commrs (2002) Sp C 319

Exceptions from charge on death

Legislation/Regulatory – IHTA84 s. 54
HMRC Guidance – CG36457 ; IHTM04351 ; IHTM04352 ; IHTM04353 ; IHTM04360 ; IHTM12195 ; IHTM16121 ; IHTM44050

Excluded property

Deemed domicile

Legislation/Regulatory – SP E9

No tax payable

Legislation/Regulatory – IHTA84 s. 53(1)

Exemptions, excluded

Legislation/Regulatory – IHTA84 s. 56

Gifts in consideration of marriage, application of

Legislation/Regulatory – IHTA84 s. 57

Gifts with reservation

Legislation/Regulatory – FA86 s. 102ZA, Sch. 20, para. 4A

Life assurance policies entered into before 22 March 2006

Legislation/Regulatory – IHTA84 s. 46A, 46B

Maintenance fund following

Generally

Legislation/Regulatory – IHTA84 Sch. 4, para. 15A

Relief property entering

Legislation/Regulatory – IHTA84 s. 57A, Sch. 4, para. 15A

Meaning

Commentary – Tax Reporter ¶350-425 ; Tax Reporter ¶351-425 ; Tax Reporter ¶351-450
Legislation/Regulatory – PR 12/2/76
Case Law – Judge & Anor as Personal Representatives of P I A Walden (dec'd) v. R & C Commrs ; Oakley & Anor as Personal Representatives of Jossaume dec'd v IR Commrs ; Trustees of Fairbairn or Douglas v. R & C Commrs

National heritage property

Commentary – Tax Reporter ¶363-100

Non-resident beneficiaries

Commentary – Tax Reporter ¶354-300
HMRC Guidance – TSEM3160
Case Law – (1) A.W. WILLIAMS (SURVEYOR OF TAXES) v. W.M.G. SINGER AND OTHERS. (2) A.F. POOL (SURVEYOR OF TAXES) v. ROYAL EXCHANGE ASSURANCE. ; ARCHER-SHEE v. BAKER (H.M. INSPECTOR OF TAXES). ; GARLAND (H.M. INSPECTOR OF TAXES) v. ARCHER-SHEE. ; REID'S TRUSTEES v. THE COMMISSIONERS OF INLAND REVENUE. THE COMMISSIONERS OF INLAND REVENUE v. REID'S TRUSTEES.

Occupation of trust property

Beneficiary

Commentary – Tax Reporter ¶351-475
Case Law – Cook & Anor (Executors of Watkins dec'd) v IR Commrs ; Eric Woodhall (Personal Representative of Alan Woodhall dec'd) v IR Commrs ; Faulkner (Trustee of Adams dec'd) v IR Commrs

Tenant in common

Commentary – Tax Reporter ¶351-475
Case Law – Cook & Anor (Executors of Watkins dec'd) v IR Commrs ; Eric Woodhall (Personal Representative of Alan Woodhall dec'd) v IR Commrs ; Faulkner (Trustee of Adams dec'd) v IR Commrs

Trustee's powers

Commentary – Tax Reporter ¶351-475
Case Law – Cook & Anor (Executors of Watkins dec'd) v IR Commrs ; Eric Woodhall (Personal Representative of Alan Woodhall dec'd) v IR Commrs ; Faulkner (Trustee of Adams dec'd) v IR Commrs

On or after 22 March 2006

Legislation/Regulatory – FA2008 s. 141 ; IHTA84 s. 46A, 46B, 49A-49E, 71A-71H, 89A, 89B ; Misc. 119

Outline

Commentary – Tax Reporter ¶351-400

Partial entitlement

Generally

Legislation/Regulatory – IHTA84 s. 50(1)
HMRC Guidance – IHTM16101

Lease as settlement

Legislation/Regulatory – IHTA84 s. 50(6)
HMRC Guidance – IHTM16192

Treasury order varying deemed value of interest

Legislation/Regulatory – IHTA84 s. 50(3) ; SI 2000/174
HMRC Guidance – IHTM11072 ; IHTM16214

Participators in close companies

Legislation/Regulatory – IHTA84 s. 101

Potentially exempt transfers, rate of charge

Legislation/Regulatory – IHTA84 s. 54A, 54B

Power to augment income

Legislation/Regulatory – SP E6

Quick succession relief

– see Quick succession relief

Reduction of value of

Legislation/Regulatory – IHTA84 s. 52(3), (4)
HMRC Guidance – IHTM04086 ; IHTM04094 ; IHTM04161 ; IHTM04167 ; IHTM04230 ; IHTM16092 ; IHTM16102

Reversion to settlor or spouse

Legislation/Regulatory – IHTA84 s. 53(3)-(5), 54

Scotland

Commentary – Tax Reporter ¶351-525
Legislation/Regulatory – IHTA84 s. 46
HMRC Guidance – IHTM16072

Settled property

Alimentary liferent, construction of trust deed

Case Law – Trustees of Fairbairn or Douglas v. R & C Commrs (2007) Sp C 593

Appointment

Case Law – Inland Revenue Commissioners v. The Trustees of Sir John Aird's Settlement (No. 2). [1984] BTC 8,003 ; Inland Revenue Commissioners v. Trustees of Sir John Aird's Settlement (No. 2). [1982] BTC 8,026 ; Inland Revenue Commissioners v. Trustees of Sir John Aird's Settlement. [1982] BTC 8,003

Appointment, exempt government securities

Case Law – Minden Trust (Cayman) Ltd. and Others v. Inland Revenue Commissioners. [1984] BTC 8,071 ; Minden Trust (Cayman) Ltd. v. Inland Revenue Commissioners. [1985] BTC 8,066

Beneficial entitlement

Case Law – Eric Woodhall (Personal Representative of Alan Woodhall dec'd) v IR Commrs (2000) Sp C 261

Close company's attributed to participators

Case Law – Powell-Cotton v. Inland Revenue Commissioners. [1992] BTC 8,086

Company's occupation of property comprised in trust fund

Case Law – Oakley & Anor as Personal Representatives of Jossaume dec'd v IR Commrs (2005) Sp C 460

Protective trust, termination of life interest

Case Law – Cholmondeley & Anor. v. Inland Revenue Commissioners. [1986] BTC 8,067

Survivor's entitlement on death

Case Law – Faulkner (Trustee of Adams dec'd) v IR Commrs (2001) Sp C 278

Settled property with qualifying interest in possession

– see Settled property

Settlor or spouse, initial interest

Legislation/Regulatory – IHTA84 s. 80

Share in matrimonial home

Case Law – Inland Revenue Commissioners v. Lloyds Private Banking Ltd. [1998] BTC 8,020

Sole beneficiary of discretionary trust

Case Law – Moore & Anor. v. Inland Revenue Commissioners. [1984] BTC 8,034

Specified entitlement

Generally

Legislation/Regulatory – IHTA84 s. 50(2)
HMRC Guidance – IHTM16212 ; IHTM16213 ; IHTM16214

Treasury order varying deemed value of interest

Legislation/Regulatory – IHTA84 s. 50(3) ; SI 2000/174

Spouse becoming beneficially entitled on death of beneficiary

Legislation/Regulatory – IHTA84 s. 54(2)

Substitution immediately before vesting day

Case Law – Swales and Others v. Inland Revenue Commissioners. [1984] BTC 8,079

Tax burden, allocation among beneficiaries

Commentary – Tax Reporter ¶630-100

Termination

Generally

Commentary – Tax Reporter ¶601-300
HMRC Guidance – IHTM04025

Transfer of value

Commentary – Tax Reporter ¶601-300
HMRC Guidance – IHTM04025

Value transferred by hypothetical transfer of value

Commentary – Tax Reporter ¶602-500

Termination of

Charge to tax

Legislation/Regulatory – IHTA84 s. 52
HMRC Guidance – IHTM04021 ; IHTM04053 ; IHTM04063 ; IHTM04083 ; IHTM04084 ; IHTM04085 ; IHTM04088 ; IHTM04093 ; IHTM04230 ; IHTM04344 ; IHTM04351 ; IHTM04360 ; IHTM04410 ; IHTM10676 ; IHTM14202 ; IHTM14519 ; IHTM14546 ; IHTM16082 ; IHTM16091 ; IHTM16092 ; IHTM16103 ; IHTM16122 ; IHTM16131 ; IHTM16138 ; IHTM16200 ; IHTM16221 ; IHTM16243 ; IHTM16245 ; IHTM16248 ; IHTM16260 ; IHTM24162 ; IHTM25243 ; IHTM35134 ; IHTM35208 ; IHTM42090 ; IHTM42223 ; IHTM42807 ; IHTM44042

Disabled person's interest

Legislation/Regulatory – FA2008 s. 140 ; IHTA84 s. 53(2A)

Disposal for maintenance of beneficiary's family

Legislation/Regulatory – IHTA84 s. 51(2)

Disposal of interest

Legislation/Regulatory – IHTA84 s. 52(2), (4)

During beneficiary's life

Legislation/Regulatory – IHTA84 s. 51(1A), (1B)

Excepted terminations, delivery of accounts

Legislation/Regulatory – SI 2008/605

Exceptions from charge

Legislation/Regulatory – IHTA84 s. 53
HMRC Guidance – IHTM04353 ; IHTM16091 ; IHTM16092 ; IHTM42989

Exceptions from charge on death

Legislation/Regulatory – IHTA84 s. 54

Exemption

Legislation/Regulatory – IHTA84 s. 53(2)

Interest arising on or after 22 March 2006

Legislation/Regulatory – IHTA84 s. 52(2A), (3A)

Reversion to settlor or spouse

Legislation/Regulatory – IHTA84 s. 53(3)-(5), 54

Transitional serial interest

Legislation/Regulatory – FA2008 s. 140 ; IHTA84 s. 53(2A)

Transfers of value after 17 March 1987

Legislation/Regulatory – F(No. 2)A87 s. 96(1)

Treatment of for tax purposes

Legislation/Regulatory – IHTA84 s. 49, 50
HMRC Guidance – CG36542 ; IHTM04165 ; IHTM11032 ; IHTM14318 ; IHTM16061 ; IHTM16063 ; IHTM16075 ; IHTM16076 ; IHTM16092 ; IHTM42808 ; IHTM44032 ; IHTM44035

Trustees' annuities

Legislation/Regulatory – IHTA84 s. 90

Use and enjoyment of property

Legislation/Regulatory – IHTA84 s. 50(5)
HMRC Guidance – IHTM16102 ; IHTM16103

Value for tax

Beneficiary's entitlement

Legislation/Regulatory – IHTA84 s. 49(1) ; Misc. 121

Lease as settlement

Legislation/Regulatory – IHTA84 s. 50(6)

Partial entitlement

Legislation/Regulatory – IHTA84 s. 50(1), (3) ; SI 2000/174

Specified entitlement

Legislation/Regulatory – IHTA84 s. 50(2), (3) ; SI 2000/174