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.