A
On each occasion of a 10-year charge, relevant property is taxed at a maximum rate of 6%. The rate is calculated as 30% of the “effective rate”, which is itself determined by performing an...
An exit charge arising before the first 10-year charge is based on the initial value of the settled property on the creation of the trust. BPR and APR will not be available to reduce the initial value...
The usual IHT reliefs are available, including business property relief (¶59050+) and agricultural property relief (¶59295+), where the life tenant fulfilled the relevant conditions.