Chargeable life transfer. nil-rate band, deed of variation

[dvorak]

I have a few questions:

1. If a chargeable lifetime transfer (of inherited money) is made by a settlor (without a deed of variation) who will also be beneficiary of a trust, is there a corresponding reduction of the settlors personal nil-rate band?

e.g. if settlor gives £100K to a trust , will his own nill rate band be reduced by £100K so he gets charged IHT on anything over £225K if he dies. (£325k-£100k)

2. If the answer to 1 is yes. Will the settlor have lost part of his nil-rate band for life? Or does it recover after some years?

3. If the trust is made instead by varying the beneficiaries entitlement under the will of the deceased, his nil rate band will not be affected but will the trust still have the 10 year charge?