74 Pre-1981 trusts for disabled persons
Inheritance Tax Act 1984 (1984 c 51) | Legislation

74  Pre-1981 trusts for disabled persons

(1)     This section applies to settled property transferred into settlement before 10th March 1981 and held on trusts under which, during the life of a disabled person, no interest in possession in the settled property subsists, and which secure that any of the settled property which is applied during his life is applied only or mainly for his benefit.

(2)     Subject to subsection (3) below, there shall be a charge to tax under this section—

(a)     where settled property

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