Inheritance Tax Act 1984 section 44

Settlor

Section 44 defines who counts as a "settlor" for inheritance tax purposes and explains how settlements with more than one settlor are treated.

• A settlor is any person who made the settlement, whether directly or indirectly
• The definition extends to anyone who provided funds for the settlement or in connection with it, even indirectly
• A person who entered into a reciprocal arrangement for someone else to create the settlement is also treated as a settlor
• Where there are multiple settlors, the settled property may be treated as if it were held in separate settlements for each settlor