Paragraph 2 IHTA 1984

In section 5 (meaning of estate), for subsection (1B) substitute—

“(1B)

An interest in possession falls within this subsection if—

(a)

the person became beneficially entitled to it on or after 9 December 2009 by virtue of a disposition that was prevented from being a transfer of value by section 10 (no gratuitous benefit), and

(b)

the person—

(i)

has been a long-term UK resident at any time on or after 6 April 2025 while beneficially entitled to it, or

(ii)

became beneficially entitled to it at a time before 6 April 2025 while domiciled in the United Kingdom.”