For the latest New Development, see ND.2621.
IHT charges on settled property without a qualifying interest in possession (QIIP) are expressed as charges on 'relevant property'1. There is a mechanism for making the charges proportional to the period during which trust property has been relevant property2.
Relevant property means3 settled property (I5.111) in which no QIIP (I5.203) subsists. A summary of the types of trusts that are typical of the regime is given at I5.301.
It seems that this definition of relevant property must
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