# Finance Act 2012, Paragraph 29


(1) Section 32 (conditionally exempt transfers: chargeable events) is amended as follows.
(2) In subsection (3), for “subsections (4) and (5)” substitute “ subsections (4), (4A) and (5) ”.
(3) After subsection (4) insert—
“(4A) A death or disposal is not a chargeable event with respect to any property if—
(a) in the case of a death, a person who became beneficially entitled to the property on the death disposes of it in the circumstances described in paragraph 1 of Schedule 14 to the Finance Act 2012 (gifts to the nation) within 3 years of the death, or
(b) in the case of a disposal, the disposal is made in the circumstances described in paragraph 1 of that Schedule,
and a death or disposal of the property after such a disposal as is mentioned in paragraph (a) or (b) is not a chargeable event with respect to the property unless there has again been a conditionally exempt transfer of it after that disposal.”

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/14/paragraph/29 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-14/paragraph-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.