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Legislation
Inheritance Tax Act 1984

CHAPTER II INTERESTS IN POSSESSION, REVERSIONARY INTERESTS AND SETTLEMENT POWERS

  • Section 49 Treatment of interests in possession.
  • Section 49A Immediate post-death interest
  • Section 49B Transitional serial interests
  • Section 49C Transitional serial interest: interest to which person becomes entitled during period 22nd March 2006 to 5th October 2008
  • Section 49D Transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6th October 2008
  • Section 49E Transitional serial interest: contracts of life insurance
  • Section 50 Interests in part, etc.
  • Section 51 Disposal of interest in possession.
  • Section 52 Charge on termination of interest in possession.
  • Section 53 Exceptions from charge under section 52.
  • Section 54 Exceptions from charge on death
  • Section 54A Special rate of charge where settled property affected by potentially exempt transfer.
  • Section 54B Provisions supplementary to section 54A.
  • Section 55A Purchased settlement powers
  • Section 55 Reversionary interest acquired by beneficiary.
  • Section 56 Exclusion of certain exemptions.
  • Section 57 Application of certain exemptions.
  • Section 57A Relief where property enters maintenance fund.
  1. Chapter II · INTERESTS IN POSSESSION, REVERSIONARY INTERESTS AND SETTLEMENT POWERS
  2. Transitional serial interests

Section 49B | Transitional serial interests

From legislation.gov.uk

Where a person is beneficially entitled to an interest in possession in settled property, for the purposes of this Chapter that interest is a “transitional serial interest” only—F1

(a)if section 49C or 49D below so provides, orF1

(b)if, and to the extent that, section 49E below so provides.F1

Notes

  1. F1

    Ss. 49A-49E inserted (22.3.2006) by Finance Act 2006 (c. 25), s. 156, Sch. 20 para. 5(1)(2)

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