IHTM04032 - Structure of the
charge: how the meaning of estate is extended
A person is treated as being beneficially entitled (
IHTM04031)
- to settled property in which they have a
beneficial interest in possession, IHTA84/S49 (1), except for
certain interests under
- pension schemes, IHTA84/S151 (2) and (3),
- or trusts for the benefit of employees etc,
IHTA84/S86
For property where the IIP began on or after 22 March
2006 S49 (1) only applies to interests in possession where the
interest is an immediate post- death interest, disabled
person’s interest or a transitional serial interest (
IHTM16061).
- to a direct interest in the whole (or an
appropriate part) of the net assets of an unadministered residuary
estate (
IHTM22000) in which they have a
beneficial interest,
- to unsettled property over which they have
a general power, (
IHTM04034) IHTA84/S5 (2), except for
certain interests under cash options under pension schemes,
IHTA/S152. The scope of S5 (2) is extended to settled property in
relation to interests under a registered pension scheme,
IHTA84/S151 (4).
- on their death, to GWR (
IHTM14301) property then subject to a
reservation, FA86/S102 (3). The scope of FA 1986/s102 is extended
to interests in possession to which s49(1) applies that come to an
end on or after 22 March 2006.
