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There remain some lifetime transfers of value which are immediately chargeable to IHT irrespective of how long the transferor survives¹. The main examples are:

1. Ìý

   •ÌýÌýÌýÌý a transfer before 22 March 2006 of property into a discretionary settlement (not being an accumulation and maintenance (A&M), disabled, or protective trust)²

2. Ìý

   •ÌýÌýÌýÌý a transfer after 21 March 2006 of property into a disabled person's interest or the settlement is a pre-22 March 2006 settlement of a life insurance policy on interest in possession trusts and the transfer is payment of a premium³

3. Ìý

   the termination of an interest in possession in settled property before 22 March 2006, to be followed by discretionary trusts (not being A&M, disabled or protective trusts). This can give rise to a tax charge at special rates by reference to the settlor's previous chargeable transfers if the settlement was made after 16 March 1987 by means of a potentially exempt transfer (PET)⁴

4. Ìý

   •ÌýÌýÌýÌý the termination of a qualifying interest in possession (QIIP)