I5.210 General rules for taxing QIIPs
A person with a qualifying interest in possession (QIIP) is treated as absolutely entitled to the trust assets for IHT purposes1. Special rules apply for part interests and annuities.
It is however specifically provided that where a person purchases a QIIP, the extent to which his payment for it is a transfer of value is assessed on the basis that it is the interest in possession that has been
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