{
  "url": "https://openlegislation.uk/finance-act-2025/schedule-13/paragraph-9",
  "json_url": "https://openlegislation.uk/finance-act-2025/schedule-13/paragraph-9.json",
  "legislation": "ukpga/2025/8",
  "legislation_title": "Finance Act 2025",
  "legislation_url": "https://openlegislation.uk/finance-act-2025",
  "path": "schedule/13/paragraph/9",
  "kind": "paragraph",
  "number": "9",
  "heading": "IHTA 1984",
  "text": "(1) Section 54 (exceptions from charge on death) is amended as follows.\n(2) In subsections (2) and (2B)(e), for “domiciled in the United Kingdom” substitute “a long-term UK resident”.\n(3) After subsection (2B) insert—\n“(2C) Where—\n(a) a person who is entitled to an interest in possession in settled property dies,\n(b) the settled property became comprised in the settlement before 30 October 2024,\n(c) immediately before 30 October 2024, the settled property was excluded property by virtue of section 48(3) or (3A) (as it had effect at that time),\n(d) the person became beneficially entitled to the interest before 30 October 2024, and\n(e) immediately before the person’s death, the settled property—\n(i) was situated outside the United Kingdom and was not property to which paragraph 2 or 3 of Schedule A1 applied (overseas property with value attributable to UK residential property), or\n(ii) was a holding in an authorised unit trust or a share in an open-ended investment company,\nthe value of the settled property shall be left out of account in determining for the purposes of this Act the value of the person’s estate immediately before their death.\n(2D) Where a person became beneficially entitled to an interest in possession in settled property on or after 22 March 2006, subsection (2C) applies in relation to the interest only if it is—\n(a) an immediate post-death interest,\n(b) a disabled person’s interest, or\n(c) a transitional serial interest,\nor falls within section 5(1B) (certain interests acquired with no gratuitous benefit).”",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2025/8/schedule/13/paragraph/9",
    "retrieved_at": "2026-10-29T08:47:01.939707+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."
}