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I5.360 Calculation of exit charge between anniversaries

The method of calculating a charge on an event in between ten-year anniversaries (but after the first anniversary) is as follows¹:

1. Ìý

   (1)ÌýÌýÌýÌý For chargeable events arising on or after 18 November 2015, consider whether relevant property has became comprised in the settlement since the most recent ten-year anniversary, either immediately on it being added to the settlement or at a later time when property in the settlement ceased to be non-relevant property.

2. Ìý

   It is important to note that for chargeable events arising on or after 18 November 2015 no account is taken of property in the settlement which has never been relevant property.

3. Ìý

   For chargeable events before 18 November 2015, it was necessary to consider whether any property had become comprised in the settlement since the most recent ten-year anniversary.

4. Ìý

   If so, and even if that property has already ceased to be comprised in the settlement, recalculate the 'effective rate' for the most recent ten-yearly periodic charge (I5.353)