Commentaries

Tax Memo


 CHAPTER 5   Inheritance tax and trusts 


 SECTION 1   General principles  

69000
Inheritance tax (IHT) is a tax on inheritances, gifts, and other transfers of property by individuals, either during lifetime or on death. IHT can also be charged on the value of property held in a trust. The general rules relating to IHT (including general anti-avoidance measures) are covered at ΒΆ55000+. This chapter only deals with those provisions specific to trusts.
IHT may be relevant on:
-  the creation and cessation either of a trust itself, or of an interest in possession in it; or

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