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Where settled property ceases to be property within an 18–25 trust there is a charge to tax¹ unless:

1. Ìý

   (a)ÌýÌýÌýÌý the beneficiary, B, becomes, at or under the age of 18, absolutely entitled to the settled property, its income and any accumulated income². Note this only covers the case where B becomes absolutely entitled at or under 18, not where he becomes entitled at age 25 or at any other time after attaining 18

2. Ìý

   (b)ÌýÌýÌýÌý the death of the B occurs under the age of 18³. This exception means that there is no charge where B dies before the age of 18 and as a result of this some or all of the property in which he was interested ceases to be held on 18–25 trusts. Again, it must be noted that this exception does not cover the case where B dies after his 18th birthday and before he has attained an absolute interest at 25 or under

3. Ìý

   (c)ÌýÌýÌýÌý the settled property becomes, at