IHTM14391 - Settled property: introduction

In their application to settled property, the GWR instructions ( IHTM14301) need extending to cover situations

• where the gift or disposition brings to an end the donor’s interest in possession in settled property

and

• where the gift is by way of settlement, or the donee settles the property received from the donor.

Termination of interest in possession

The disposal or termination (whether by surrender, release or otherwise) of an interest in possession ( IHTM04084) in settled property presents special problems.

Refer to Litigation any case in which there is such an event and where, because the former life tenant continued to receive a benefit from the underlying settled property, the possibility of a GWR charge arises.

(This text has been withheld because of exemptions in the Freedom of Information Act 2000)

Gifts by way of settlement

The instructions in the following pages all concern the application of the GWR rules to gifts by way of settlement. There are also separate tracing ( IHTM14401) instructions

For gifts on or after 18 March 1986 on the trusts of a settlement made before that date, see the earlier instructions ( IHTM14311).