# Finance Act 2006, Paragraph 3


(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)—
(a) for “twenty-five” substitute “ eighteen ”, and
(b) omit “or to an interest in possession in it”.
(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.
(3) There is no charge to tax under section 71 of IHTA 1984 in a case where—
(a) settled property ceases, on the coming into force of sub-paragraph (1), to be property to which that section applies, but
(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).

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Source: https://www.legislation.gov.uk/ukpga/2006/25/schedule/20/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2006/schedule-20/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.