Subject to the exceptions mentioned in I5.331–I5.342, where the property (or part of the property) in a settlement ceases to be relevant property there is a charge to IHT1 on the amount determined as described in I5.316 and at the rates determined as described in I5.313.
As a result of the definition of 'relevant property' (see I5.303)2, this is a general charging provision which applies whenever any of the following events occurs in relation to relevant property:
- Ìý
•ÌýÌýÌýÌý a distribution of capital to a beneficiary
- Ìý
•ÌýÌýÌýÌý prior to 22 March 2006, an appointment of an interest in possession to which an individual is beneficially entitled
- Ìý
•ÌýÌýÌýÌý on or after 22 March
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