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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Foreign Property in a trust: FOTRA securities

If the trust property includes government securities which qualify as FOTRA securities (IHTM04306) they are exempt from IHT if the life tenant is not (or all of the objects of a discretionary settlement are not) ordinarily resident in the UK. - IHTA84/S48 (4).