201 Settled property
Inheritance Tax Act 1984 (1984 c 51) | Legislation

201  Settled property

(1)     The persons liable for the tax on the value transferred by a chargeable transfer made under Part III of this Act are—

(a)     the trustees of the settlement;

(b)     any person entitled (whether beneficially or not) to an interest in possession in the settled property;

(c)     any person for whose benefit any of the settled property or income from it is applied at or after the time of the transfer;

(d)     where the transfer is made during the life of the settlor and the trustees are not for the time being resident in the United Kingdom, the settlor.

(2)     Where the chargeable transfer is made within [seven years]

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