{
  "url": "https://openlegislation.uk/finance-act-2006/schedule-20/paragraph-3",
  "json_url": "https://openlegislation.uk/finance-act-2006/schedule-20/paragraph-3.json",
  "legislation": "ukpga/2006/25",
  "legislation_title": "Finance Act 2006",
  "legislation_url": "https://openlegislation.uk/finance-act-2006",
  "path": "schedule/20/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) In section 71(1)(a) of IHTA 1984 (section applies to settled property only if one or more persons will become beneficially entitled on or before reaching a specified age not exceeding 25)—\n(a) for “twenty-five” substitute “ eighteen ”, and\n(b) omit “or to an interest in possession in it”.\n(2) Sub-paragraph (1) comes into force on 6th April 2008 but only for the purpose of determining whether, at a time on or after that day, section 71 of IHTA 1984 applies to settled property.\n(3) There is no charge to tax under section 71 of IHTA 1984 in a case where—\n(a) settled property ceases, on the coming into force of sub-paragraph (1), to be property to which that section applies, but\n(b) that section would immediately after the coming into force of sub-paragraph (1) apply to the settled property but for the amendments made by sub-paragraph (1).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2006/25/schedule/20/paragraph/3",
    "retrieved_at": "2026-10-29T09:14:22.939634+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}