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Legislation
Taxation of Chargeable Gains Act 1992

Chapter I Miscellaneous provisions

  • Section 58 Spouses and civil partners.
  • Section 59 Partnerships.
  • Section 59A Limited liability partnerships.
  • Section 59AA Limited liability partnerships: deemed disposal
  • Section 59B Alternative investment fund managers (1)
  • Section 59C Alternative investment managers (2)
  • Section 60 Nominees and bare trustees.
  • Section 61 Funds in court.
  • Section 62 Death: general provisions.
  • Section 63 Death: application of law in Scotland.
  • Section 63A Death: application of law in Northern Ireland
  • Section 64 Expenses in administration of estates and trusts.
  • Section 65 Liability for tax of trustees or personal representatives.
  • Section 66 Insolvents’ assets.
  • Section 67 Provisions applicable where section 79 of the Finance Act 1980 has applied.
  1. Chapter I · Miscellaneous provisions
  2. Death: application of law in Scotland.

Section 63 | Death: application of law in Scotland.

From legislation.gov.uk

(1)The provisions of this Act, so far as relating to the consequences of the death of ... a proper liferenter of any property, shall have effect subject to the provisions of this section.F1

(2)... on the death of any such ... liferenter ... the person (if any) who, on the death of the liferenter, becomes entitled to possession of the property as fiar shall be deemed to have acquired all the assets forming part of the property at the date of the deceased’s death for a consideration equal to their market value at that date.F2F3F4

Notes

  1. F1

    Words in s. 63(1) repealed (with effect in accordance with Sch. 12 para. 11(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 11(1)(a), Sch. 26 Pt. 3(15)

  2. F2

    Words in s. 63(2) repealed (with effect in accordance with Sch. 12 para. 11(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 11(1)(b)(i), Sch. 26 Pt. 3(15)

  3. F3

    Words in s. 63(2) repealed (with effect in accordance with Sch. 12 para. 11(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 11(1)(b)(ii), Sch. 26 Pt. 3(15)

  4. F4

    Words in s. 63(2) repealed (with effect in accordance with Sch. 12 para. 11(3) of the amending Act) by Finance Act 2006 (c. 25), Sch. 12 para. 11(1)(b)(iii), Sch. 26 Pt. 3(15)

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