A person with a qualifying interest in possession in trust assets is treated as absolutely entitled to the underlying capital for IHT purposes1.
A qualifying interest in possession (referred to for convenience as a 'qualifying IIP' or 'QIIP') differs depending upon whether the beneficiary is a company or an individual.
Individual
A qualifying interest in possession is:
- Ìý
•ÌýÌýÌýÌý after 21 March 2006
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