IHT in Discretionary Trusts - Tax Issues on Converting from QIIP to Inside RPR

Introduction

Taxing IHT inside the relevant property trust regime can be complicated enough with a straightforward trust.

When the trust converts from a qualifying interest in possession trust (‘QIIP’) to being inside the relevant property regime (‘RPR’), the taxation calculations can get even more tricky.

This short webinar will address these issues, showing how to deal with the conversion of a QIIP into the RPR, and the impact on the anniversary charge when it does so, including grossing up where relevant.

The webinar will guide you through both the legislation and some practical examples.

What You Will Learn

This webinar will cover the following:

• Reminder of what is a QIIP and what is the relevant property regime
• How does a QIPP passing into the PRP impact the exit charge
• How does it impact the anniversary charge?
• Examples

This webinar was recorded on 14th September 2022