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    Trusts, settlements and estates - Inheritance tax and trusts - Chargeable trusts - The 10-year charge - Calculation of tax - 69145

    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...

    Trusts, settlements and estates - Inheritance tax and trusts - Chargeable trusts - Reliefs - Business and agricultural property - Exit charge - 69355

    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...

    Trusts, settlements and estates - Inheritance tax and trusts - Exempt (interest in possession) trusts - Reliefs and exemptions - On death - 69905

    The usual IHT reliefs are available, including business property relief (¶59050+) and agricultural property relief (¶59295+), where the life tenant fulfilled the relevant conditions.