Part 5 Property Subject to a Reservation
Finance Act 2006 (2006 c 25) | Legislation

Part 5 Property Subject to a Reservation

33

(1)     FA 1986 is amended as follows.

(2)     After section 102 (gifts with reservation) insert—

“102ZA Gifts with reservation: termination of interests in possession

(1)     Subsection (2) below applies where—

(a)     an individual is beneficially entitled to an interest in possession in settled property,

(b)     either—

(i)     the individual became beneficially entitled to the interest in possession before 22nd March 2006, or

(ii)     the individual became beneficially entitled to the interest in possession on or after 22nd March 2006 and the interest is an immediate post-death interest, a disabled person's interest or a transitional serial interest, and

(c)     the interest in possession comes to an end during the individual's life.

(2)     For the purposes of—

(a)     section 102 above, and

(b)     Schedule

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