CG36455 | Life interests and interests in possession: Death of person with interest in possession: interest in part

TCGA92/S73 (3)

The paragraphs below concerning interests in part of the settled property apply in the same way for cases where part ceases to be settled property as they do for cases where the property continues to be settled. See example at CG36510.

TCGA92/S73 (2)

Where the interest was in part of the property only, the appropriate proportion of the chargeable gain arising under Section 71(1) is exempted.

From 22 March 2006 this only applies to certain kinds of interest in possession, see CG36525.