86 Trusts for benefit of employees
Inheritance Tax Act 1984 (1984 c 51) | Legislation

Chapter IV
Miscellaneous

86  Trusts for benefit of employees

(1)     Where settled property is held on trusts which, either indefinitely or until the end of a period (whether defined by a date or in some other way) do not permit any of the settled property to be applied otherwise than for the benefit of—

(a)     persons of a class defined by reference to employment in a particular trade or profession, or employment by, or office with, a body carrying on a trade, profession or undertaking, or

(b)     persons of a class defined by reference to marriage [to or civil partnership with,] or relationship to, or dependence on, persons of a class defined as mentioned in paragraph (a) above,

then, subject to subsection (3) below, this section applies to that settled property or, as the case may be, applies to it during that period.

(2)     Where settled property

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