IHTM04262 - Holdings in Open Ended Investment Companies (OEICs) and Authorised Unit Trusts (AUTs)

Holdings in Open Ended听Investment Companies (OEICs) and Authorised Unit Trusts (AUTs) are excluded property (IHTM27211) if they are held by an individual who is not long-term UK resident听(IHTM47000).听

Where the occasion of charge occurred on or after 16 October 2002听but before 6 April 2025听OEICs听and AUTs were excluded property听if they were held by an individual who was not domiciled (IHTM13000) in the UK.听听

An Authorised Unit Trust is defined in IHTA84/S272 as 바카라 사이트榓 scheme which is a unit trust scheme for the purposes of the Income Tax Acts (ITA07/S1007) and in the case of which an order under Financial Services and Markets Act 2000/S243 is in force바카라 사이트�听

Open Ended Investment Companies are defined in IHTA84/S272 as 바카라 사이트榓n open-ended investment company within the meaning given by Financial Services and Markets Act 2000/S236 which is incorporated in the United Kingdom听

Where OEICs and AUTs are comprised听in a settlement,听they are excluded property at times when the settlor is not a long-term UK resident.听

If the settlor dies听on or after 6 April 2025, OEICs and AUTs will be excluded property if the settlor was not a long-term UK resident at their death.听

If the settlor dies before 6 April 2025, OEICs and AUTs will be excluded property听if they became comprised听in a settlement at a time when the settlor was not domiciled (IHTM13000) in the UK.听

There is no exit charge听where property comprised听in a settlement ceases to be relevant property because it is invested in OEICs or AUTs听IHTA84/S65(7A)听

Any case where the transfer concerns property held in a relevant property trust where:听

  • it is comprised听in the trust when the settlor i蝉바카라 사이트�听not听long-term UK resident (on or after 6 April 2025) or became comprised听in the trust when the settlor was domiciled outside the UK听(before 6 April 2025), and听

  • the trust disposes of UK situs (IHTM27071) assets and also听acquires听AUTs / OEICs听

must be referred to Technical.听

There is further relevant guidance on foreign property, excluded from Inheritance Tax at바카라 사이트�IHTM27211.听