The expression 'foreign trusts' is not used in the IHT legislation. Nevertheless there are specific provisions for trusts with a foreign element:
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•ÌýÌýÌýÌý Where property comprised in a settlement is situated outside the UK, the property is excluded property unless the settlor was domiciled in the UK at the time the settlement was made1 — see I9.332.
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In HMRC's view the settlement is made when the asset is transferred to the trustees to hold on the declared trusts2.
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Where the property is settled by Will or under the intestacy rules, the relevant date is the date of death3.
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Where property is added to a trust, it is the date of addition which is relevant4.
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•ÌýÌýÌýÌý Exempt government securities comprised in a settlement are excluded property if certain conditions as to the beneficiaries not being resident (and, before 6
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