# Finance Act 2025, Paragraph 2: IHTA 1984

Extent: E+W+S+N.I.

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.”

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Source: https://www.legislation.gov.uk/ukpga/2025/8/schedule/13/paragraph/2 (the official version)
Page: https://openlegislation.uk/finance-act-2025/schedule-13/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.