Before 22 March 2006, transfers involving settled property could be potentially exempt transfers (PETs) if they were:
- Ìý
(a)ÌýÌýÌýÌý a gift into an accumulation and maintenance (A&M) trust or a disabled trust1.
- Ìý
(b)ÌýÌýÌýÌý settled property subject to an interest in possession in relation to transfers after 16 March 1987 and before 22 March 2006.2
Transfers into disabled trusts could also qualify as PETs under the general interest in possession rules (see (b) above), as such trusts were treated as if they were interest in possession trusts3. Similarly the termination of disabled trusts, during the life of the relevant disabled person, was capable of being a PET under the interest in possession rules described below. The same was true of protective trusts4.
The main types of events relating to settled property subject to an
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 16:28