{
  "url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-settlements-regulations-2002/regulation-3",
  "json_url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-settlements-regulations-2002/regulation-3.json",
  "legislation": "uksi/2002/1732",
  "legislation_title": "The Inheritance Tax (Delivery of Accounts) (Excepted Settlements) Regulations 2002",
  "legislation_url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-settlements-regulations-2002",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Excepted settlement",
  "text": "(1) An excepted settlement means a settlement in which no qualifying interest in possession subsists on an occasion of a chargeable event on or after 6th April 2002 in a case where—\n(a) cash is the only property comprised in the settlement;\n(b) after making the settlement, the settlor provided no further property which became comprised in the settlement;\n(c) the trustees of the settlement are resident in the United Kingdom throughout the existence of the settlement;\n(d) the gross value of the settled property at the time of the chargeable event does not exceed £1,000; and\n(e) there are no related settlements.\n(2) For the purposes of paragraph (1) trustees of a settlement shall be regarded as resident in the United Kingdom if the general administration of the settlement is ordinarily carried on in the United Kingdom and the trustees or a majority of them (and, where there is more than one class of trustees, a majority of each class) are for the time being resident in the United Kingdom.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2002/1732/regulation/3",
    "retrieved_at": "2026-10-29T06:53:25.956548+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}