Inheritance Tax Act 1984 section 47A

Settlement power

Section 47A defines the term "settlement power" as used throughout the Inheritance Tax Act 1984.

  • A settlement power is any power over settled property or a settlement.
  • The power can be exercised directly or indirectly in relation to the property or settlement.
  • Examples include appointing or removing trustees, altering trust terms, or directing use of settled property.
  • This definition applies wherever the term "settlement power" appears in the Act.

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