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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) / I5.205 Immediate post-death interest (IPDI)
Commentary

I5.205 Immediate post-death interest (IPDI)


IHT, trusts and estates

While settled property is an immediate post-death interest (IPDI), it will not be subject to the relevant property charging regime described in Division I5.3.

A person's interest in possession is an IPDI only if:

  1. Ìý

    (1)ÌýÌýÌýÌý the interest in possession arises under a settlement effected by Will or intestacy1. HMRC accepts that an IPDI can arise by the exercise of a general power of appointment by Will – see HMRC's answer to question 15 submitted by STEP and CIOT in relation to FA 2006, Sch 20 on 7 September 2006

  2. Ìý

    (2)ÌýÌýÌýÌý the person became beneficially entitled to the interest on the death of the testator or intestate2

  3. Ìý

    (3)ÌýÌýÌýÌý the bereaved minors trust provisions (I5.546–I5.550)3 do not apply to the property in which the interest subsists,

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