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Home / Simons-Taxes /IHT, trusts and estates /Part I5 Settled property /Division I5.3 Settlements within the relevant property regime /The charge at the ten-year anniversary—calculating the charge / I5.355 Calculating the ten-yearly charge examples
Commentary

I5.355 Calculating the ten-yearly charge examples


IHT, trusts and estates

Example 1—hypothetical value transferred

The facts are as I5.318 and can be summarised as follows:

  1. Ìý

    •ÌýÌýÌýÌý Eliza transferred property then worth £600,000 on 26 July 2005 into a new settlement executed on that day.

  1. Ìý

    •ÌýÌýÌýÌý Under the trusts of that settlement half the settled property was subject to an interest in possession of the settlor's son, Ian, and half was held on discretionary trusts.

  1. Ìý

    •ÌýÌýÌýÌý Also on 26 July 2005 Eliza made a separate 'related' settlement of property then worth £100,000.

  1. Ìý

    •ÌýÌýÌýÌý Ian died on 5 December 2009, after which all the property in the settlement was held on discretionary trusts.

  1. Ìý

    •ÌýÌýÌýÌý On 10

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