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Home / Simons-Taxes /IHT, trusts and estates /Part I5 Settled property /Division I5.2 Settlements with a qualifying interest in possession (QIIP) /Types of qualifying interest in possession (QIIP) / I5.201 Introduction to qualifying interests in possession (QIIP)
Commentary

I5.201 Introduction to qualifying interests in possession (QIIP)


IHT, trusts and estates

For updates affecting this Division please see Part I0 Updates

Types of qualifying interest in possession (QIIP)

I5.201 Introduction to qualifying interests in possession (QIIP)

Trusts can be categorised differently for different reasons. For the purposes of beneficial rights, trusts usually contain interests that are either:

  1. Ìý

    •ÌýÌýÌýÌý discretionary – a beneficiary only has a hope of enjoying the assets

  2. Ìý

    •ÌýÌýÌýÌý fixed – each beneficiary has a known right to a specific amount of capital or income (although this interest could be contingent on some

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