Ihtm42973 - employee benefit trusts: sub-trusts: revocation of sub-trust - hmrc internal manual

IHTM42973 - EMPLOYEE BENEFIT TRUSTS: SUB-TRUSTS: REVOCATION OF SUB-TRUST Where a sub-trust which does not meet the requirements of IHTA84/S86 (IHTM42911) is revoked then, assuming that the

main trust continues to meet the requirements of IHTA84/S86, the sub-trust fund will, once again, be held on those trusts. As the sub-trust itself was a relevant property trust (IHTM42970)

the revocation will give rise to an exit charge (IHTM42110) on the property ceasing to be relevant property under IHTA84/S65(1)(a), unless the trust property is shares or securities in a

company and the provisions of IHTA84/S75 apply (IHTM42948). Previous page Next page Print this page