IHTM11061 - Settled property: exemption where the transferor creates an interest in possession for their spouse or civil partner
When a transferor gives their spouse or civil partner (IHTM11032) a qualifying interest in possession (IHTM16062) in settled property, the exemption on that transfer is not limited to the value of the interest in possession. The exemption is on the property in which the spouse or civil partner takes an interest in possession. This is because a person beneficially entitled to a qualifying interest in possession (IHTM16062) in settled property is treated as beneficially entitled to the property in which the interest subsists and so the settled property is part of the person바카라 사이트檚바카라 사이트痚state for Inheritance Tax바카라 사이트�(IHTM04029).听
Example听
By Will Helen gives her whole estate to her surviving spouse, William, for life. On William's death it passes to their children. Helen and William are both听long-term UK residents听(IHTM47000)听(death on or after 6 April 2025) or domiciled in the UK听(IHTM13000)听(death听before 6 April 2025).听
On Helen바카라 사이트檚 death the听whole estate is spouse exempt.听
There are separate instructions for cases where:听