IHTM42091 - Ten year anniversary: no date before April 1983 is a TYA

IHTA84/S61 (3) states that no date falling before 1 April 1983 is a ten year anniversary (TYA). 

»Ê¹ÚÌåÓýapp provision does not affect later TYA dates and will not alter your current action on trust charges, but it may help you understand what has gone before. 

So if a settlement was created on 10 June 1976, the first TYA will be 10 June 1986. However, for a settlement created on 10 March 1973, the first anniversary would not arise until 10 March 1993. 

A special rule at IHTA84/S61(4) states that  

  • if the anniversary would be after 31 March 1983 but before 1 April 1984, and  

  • during that year there is a payment out of the settlement which could not have been made without an application to a court, then   

  • the first TYA is to be taken to be 1 April 1984.Â