Part 1 “Trusts for Bereaved Minors”, “Age 18-to-25 Trusts” and “Accumulation and Maintenance” Trusts
Finance Act 2006 (2006 c 25) | Legislation

SCHEDULE 20 Inheritance Tax: Rules for Trusts etc

Section 156

Part 1 “Trusts for Bereaved Minors”, “Age 18-to-25 Trusts” and “Accumulation and Maintenance” Trusts

Trusts for bereaved minors and Age 18-to-25 trusts

1

(1)     In IHTA 1984, after section 71 insert—

“71A Trusts for bereaved minors

(1)     This section applies to settled property (including property settled before 22nd March 2006) if—

(a)     it is held on statutory trusts for the benefit of a bereaved minor under sections 46 and 47(1) of the Administration of Estates Act 1925 (succession on intestacy and statutory trusts in favour of issue of intestate), or

(b)     it is held on trusts for the benefit of a bereaved minor and subsection (2) below applies to the trusts,

but this section does not apply to property in which a disabled person's interest subsists.

(2)     This subsection applies to trusts—

(a)     established under the will of a deceased parent of the bereaved minor, or

(b)     established under the Criminal Injuries Compensation Scheme,

which secure that the conditions in subsection (3) below are met.

(3)     Those conditions are—

(a)     that the bereaved minor, if he has not done so before attaining the age of

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