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Home / Simons-Taxes /IHT, trusts and estates /Part I1 Outline of and history to current IHT regime /Division I1.5 Overview of the IHT regime /Settled property / I1.5101 Qualifying interests in possession (QIIPs)
Commentary

I1.5101 Qualifying interests in possession (QIIPs)


IHT, trusts and estates

A life tenant of a QIIP is beneficially entitled to the property and therefore it is treated as part of their estate on death and is not subject to the IHT regime for settlements. A qualifying interest in possession is one that

  1. Ìý

    •ÌýÌýÌýÌý existed before 22 March 2006

  2. Ìý

    •ÌýÌýÌýÌý came into being under the transitional provisions and is therefore a transitional serial interest

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