CG37640 | Absolute entitlement: purchase of life interest and reversion

Where a person, who has acquired a life interest or remainder in settled property for a consideration in money or money’s worth, subsequently acquires the other interest (also for a consideration in money or money’s worth) and so becomes absolutely entitled as against the trustees to the settled property, there is an `occasion of charge’ on

• the trustees under TCGA92/S71 (2), and

• the person who acquired the interest under TCGA92/S76 (2), see CG38040.