73 Death of life tenant: exclusion of chargeable gain
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

73  Death of life tenant: exclusion of chargeable gain

(1)     Where, by virtue of section 71(1), the assets forming part of any settled property are deemed to be disposed of and reacquired by the trustee on the occasion when a person becomes (or would but for a disability become) absolutely entitled thereto as against the trustee, then, if that occasion is the [death of a person entitled to an interest in possession in the settled property]—

(a)     no chargeable gain shall accrue on the disposal, and

(b)     if on the death the property reverts to the disponer, the disposal

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