HMRC internal manual

Inheritance Tax Manual

IHTM42225 - The settlement: non-income producing assets

Interest in possession?

Assets which do not produce income may have an interest in possession attached to them which defeats any otherwise discretionary provisions of a trust in which they are held. See IHTM16066

Rights of residence – joint ownership

There are also potential interest in possession issues to bear in mind for joint residential property.  See IHTM16139.