Jurisdiction(s):
United Kingdom

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Key definition

Relevant property definition

What does Relevant property mean? In UK trust practice, relevant property means trust assets that fall within the inheritance tax (IHT) “relevant property regime”, under which trustees may face ten‑yearly (periodic) and exit charges when property is distributed or appointments are made. The term is statutory and used consistently across England and Wales, Scotland and Northern Ireland under the Inheritance Tax Act 1984. Most discretionary trusts, and many lifetime trusts created on or after 22 March 2006, hold relevant property. Key exclusions include property in qualifying interest in possession trusts (for example, an immediate post‑death interest or a transitional serial interest), disabled person’s interests, bereaved minors’...

Will gift to grandchildren at 25: IHT 10‑year and exit charges

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We proceed on the basis that the default legacy will take the form of a discretionary trust in favour of the testator’s grandchildren and does not create an immediate post-death interest (IPDI) trust under section 49A of the inheritance tax Act 1984 (IHTA 1984). We further assume that it is not a disabled trust within IHTA 1984, s 89...

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Web page updated on 27/05/2026

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