IHTM27270 - Foreign property: property excluded from Inheritance Tax: specific savings held by taxpayers in Channel Islands or Isle of Man (transfers before 6 April 2025)

Until 6 April 2025, IHTA84/S6 (3) provided聽that certain savings or securities under 바카라 사이트 sponsored schemes were聽excluded property if the person beneficially entitled to them was聽domiciled (IHTM13001) in the Channel Islands or the Isle of Man.聽

The securities eligible for this exclusion were:聽

  • War Savings Certificates聽

  • National Savings Certificates, including Ulster Savings Certificates; but not National Savings Income Bonds聽

  • Premium Savings Bonds聽

  • Deposits with National Savings Bank or with a Trustee Savings Bank聽

  • Savings under any certified contractual savings scheme within TA88/S326 (commonly known as Save As You Earn or SAYE - scheme).聽

Other points to note are:聽

  • the exclusion applied聽not only to securities that were聽owned absolutely but also to any settled securities in which the owner had聽a beneficial interest in possession聽

  • the exclusion did聽not extend to settled securities held on relevant property trusts (IHTM42161),聽

  • the relevant domicile was聽that of the transferor (and not the transferee) of the securities, at the time of the transfer, which must have been before 6 April 2025,聽

  • by reason of IHTA84/S267(2) the deemed domicile (IHTM13024) provisions did聽not apply. So聽the transferor's domicile has to聽be determined聽under general law.