IHTM35132 - Trust created by a variation: procedure when a trust is created
Where the instrument of variation (IoV)creates a trust, you should follow the normal procedures in deciding whether or not you can accept the instrument as meeting the conditions of IHTA84/S142. Where you decide that you can, you should consider whetherÂ
- a future claim needs to be recorded and
- whether HMRC Trusts need to be notified as part of our liaison procedures. For Income Tax purposes the person disposing on the benefit is treated as the settlor. »Ê¹ÚÌåÓýapp date of the IoV is the date that the settlement began.Â