Inheritance Tax Manual

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) providedÌýthat certain savings or securities under 바카라 사이트 sponsored schemes wereÌýexcluded property if the person beneficially entitled to them wasÌýdomiciled (IHTM13001) in the Channel Islands or the Isle of Man.Ìý

The securities eligible for this exclusion were:Ìý

• War Savings CertificatesÌý

• National Savings Certificates, including Ulster Savings Certificates; but not National Savings Income BondsÌý

• Premium Savings BondsÌý

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

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

Other points to note are:Ìý

• the exclusion appliedÌýnot only to securities that wereÌýowned absolutely but also to any settled securities in which the owner hadÌýa beneficial interest in possessionÌý

• the exclusion didÌýnot extend to settled securities held on relevant property trusts (IHTM42161),Ìý

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

• by reason of IHTA84/S267(2) the deemed domicile (IHTM13024) provisions didÌýnot apply. SoÌýthe transferor's domicile has toÌýbe determinedÌýunder general law.