Section 90 Trustees’ annuities, etc.
Where under the terms of a settlement a person is entitled by way of remuneration for his services as trustee to an interest in possession in property comprised in the settlement, then, except to the extent that the interest represents more than a reasonable amount of remuneration,—
(a)
the interest shall be left out of account in determining for the purposes of this Act the value of his estate immediately before his death, and
(b)
tax shall not be charged under section 52 above when the interest comes to an end.
Notes on the whole Act
Textual amendments
- F1
By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.