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HMRC internal manual

Inheritance Tax Manual

Ten year anniversary: no date before April 1983 is a TYA

IHTA84/S61 (3) provides that no date falling before 1 April 1983 is a ten year anniversary (TYA).

The provision does not affect later TYA dates and will not alter your current action on trust charges, but it may help you understand what has gone before.

So if a settlement was created on 10 June 1976, the first TYA will be 10 June 1986. However, for a settlement created on 10 March 1973, the first anniversary would not arise until 10 March 1993.

A special rule at S61(4) provides that

  • if the anniversary would be after 31 March 1983 but before 1 April 1984, and
  • during that year there is a payment out of the settlement which could not have been made without an application to a court, then
  • the first ten-year anniversary is to be taken to be 1 April 1984.