104 Gifts
Finance Act 1999 (1999 c 16) | Legislation

Part V Inheritance Tax

104 Ìý³Ò¾±´Ú³Ù²õ

The following shall be inserted after section 102 of the Finance Act 1986 (inheritance tax: gifts with reservation)—

“102AÌý³Ò¾±´Ú³Ù²õ with reservation: interest in land

(1)     This section applies where an individual disposes of an interest in land by way of gift on or after 9th March 1999.

(2)     At any time in the relevant period when the donor or his spouse enjoys a significant right or interest, or is party to a significant arrangement, in relation to the land—

(a)     the interest disposed of is referred to (in relation to the gift and the donor) as property subject to a reservation; and

(b)     section 102(3) and (4) above shall apply.

(3)     Subject to subsections (4) and (5) below, a right, interest or arrangement in relation to land is significant for the purposes of subsection (2) above if (and only if) it entitles or enables the donor to occupy all or part of the land, or to enjoy some right in relation to all or part of the land, otherwise than for full consideration

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

LEXISNEXIS

VAT definition

LEXISNEXIS

Common assault and battery

Common assault and batteryThe offences of common assault and batteryTechnically, the offences of assault and battery are separate summary offences. An assault is committed when the defendant intentionally or recklessly causes another to apprehend immediate and unlawful violence and battery is

LEXISNEXIS

Negligence—when is the duty of care breached?

Negligence—when is the duty of care breached?Having established that a duty of care exists (see Practice Note: Negligence—when does a duty of care arise?), it is then necessary to consider whether or not there has been a breach of that duty. This will depend on a number of factors outlined below and