IHTM27247 - Foreign property: discretionary trusts and exempt securities: introduction

Under IHTA84/S48 (4)(b) exempt securities will be excluded from the IHT charge on a transfer if they are settled property held on discretionary trusts (where no qualifying interest in possession subsists in them), immediately before a transfer, and:

  • All “known personsâ€� (IHTM27248) for whose benefit any of the settled property (or income from it) has been, or might be, applied satisfy the conditions specified by the securities (IHTM27241).

»Ê¹ÚÌåÓýapp same conditions must also be satisfied for any person who is, or might become, entitled to a qualifying interest in possession in any of the settled property.