IHTM42070 - Relevant property trusts: chargeable events
A transfer of assets into a trust of relevant property (IHTM42161) is an immediatelyÌýchargeable transfer by the settlor. (IHTM42075)Ìý
The main occasions of charge on relevant property are:Ìý
´¡â€¯proportionate/exit charge on distributions or dispositions from the trust in the first ten years since property was first added to the settlement (before the first ten yearÌýanniversary). The claim is under IHTA84/S65Ìýand the tax is calculated under IHTA84/S68Ìý
°Õ³ó±ð ten yearÌýanniversary (the principal charge). The claim is under IHTA84/S64Ìýand the tax is calculated under IHTA84/S66Ìý
 ´¡â€¯proportionate/exit charge on distributions,ÌýdispositionsÌýor where property becomes excluded property as a result ofÌýthe settlor ceasingÌýto be long-term UK resident (IHTM47000) betweenÌýten yearÌýanniversaries. The claim is under IHTA84/S65Ìýand the tax is calculated under IHTA84/S69Ìý
Charging provisions are explained in more detail at chapter 4 of the manual from IHTM04095.