Where a beneficiary receives an interest in property within 2 years of the d/o death (due to an appointment from a discretionary trust created under the terms of a Will) – does the beneficiary become entitled/inherit @ the d/o transfer OR the d/o death (as usually deemed to have been left the asset under the terms of the deceased’s Will)?
HMRC guidance doesn’t seem to actually deal with appointments from a discretionary trust within 2 years of death? [HMRC Guidance: “The date of the inheritance for these purposes is the date that the individual becomes entitled to the interest. An interest in an un-administered estate is not a major interest in land and so usually the date the individual acquired the interest is the date the interest is transferred or appropriated to them. Although, see Capital Gains Manual at CG30700 onwards for the situation where the residue of an estate has been ascertained and the personal representative holds the residue of the estate for the beneficiary absolutely”]
Tanners Solicitors LLP