SolvedIHTM35184 | Distribution from a relevant property trust settled by Will: IHT implications
From HM Revenue & Customs · Inheritance Tax Manual
Where Technical tell you that the deed satisfies the conditions at IHTM35182
tax is not charged on the chargeable event itself, so there is no need for the trustees to complete an IHT100, and
the IHTA applies as if the will had provided that on the testator’s death the property should be held in the same way as it is held after the event. This means that any exemption appropriate to the beneficiary is available. You should calculate the tax on the testator’s estate accordingly.
A number of the instructions that apply to instruments of variation (IoV) also apply to deeds of appointment that satisfy IHTA84/S144, particularly
an appointment followed by an IoV, or visa versa does not offend the rule about redirecting the same property twice, (IHTM35085)
where a repayment is required that is outside your authority, you should not notify the taxpayer that IHTA84/S144 applies without the approval of your manager.