Where a holding in an authorised unit trust or a share in an open-ended investment company OEIC) is comprised in a settlement and the settlor was, for the purposes of IHT, domiciled outside the UK at the time the settlement was made (or with effect from 22 July 2020 the time when the property became comprised in the settlement) that holding or share (but not a reversionary interest in it) is excluded property in relation to transfers of value or other events occurring after 15 October 20021. It is also provided that there is no charge to IHT where non-excluded property in the settlement is disposed of and such unit trusts or OEICs are acquired.
For information on the other categories of excluded and exempt property for IHT see I9.311.
An authorised unit trust is a scheme authorised as such under the Financial Services and Markets Act 2000, s 2432.
An OEIC is such a company within the meaning of the Financial Services and Markets Act 2000, s 236 and which
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 14:25