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IHTM44111 | Pre-owned assets: insurance based products: introduction

From HM Revenue & Customs · Inheritance Tax Manual

Insurance policies have a unique relationship to Inheritance Tax being linked to the death of the life assured. Consequently, a number of products have been designed to avoid the reservation of benefit rules. The POA consequences for these and some other insurance based products are as follows

  • discounted gift trust (IHTM44111)

  • gift and loan trusts (IHTM44112)

  • pension policies (IHTM44113)

  • business trusts or partnership policies (IHTM44114)

  • policies settled on trust before 18 March 1986.