[54A Special rate of charge where settled property affected by potentially exempt transfer]
Inheritance Tax Act 1984 (1984 c 51) | Legislation

[54A  Special rate of charge where settled property affected by potentially exempt transfer]

[(1)     If the circumstances fall within subsection (2) below, this section applies to any chargeable transfer made—

(a)     under section 52 above, on the coming to an end of an interest in possession in settled property during the life of the person beneficially entitled to it, or

(b)     on the death of a person beneficially entitled to an interest in possession in settled property;

and in the following provisions of this section the interest in possession mentioned in paragraph (a) or paragraph (b) above is referred to as “the relevant interest”.

[(1A)     Where a person becomes beneficially entitled on or after 22nd March 2006 to an interest in possession in settled property, subsection (1)(b) above applies in relation to the person's death only if the interest is—

(a)     a disabled person's interest, or

(b)     a transitional serial interest.]

(2)     The circumstances referred to in subsection (1) above are—

(a)

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