Section 120 Successions.

United Kingdom

(1)

For the purposes of section 117 above, where the transferor became entitled to any property on the death another person—

(a)

he shall be deemed to have owned it (and, if he subsequently occupies it, to have occupied it) from the date of the death, and

(b)

if that other person was his spouse F1or civil partner he shall also be deemed to have occupied it for the purposes of agriculture for any period for which it was so occupied by his spouse or civil partner , and to have owned it for any period for which his spouse or civil partner owned it.

(2)

Where the transferor became entitled to his interest on the death of his spouse or civil partner on or after 10th March 1981—

(a)

he shall for the purposes of section 116(2)(b) above be deemed to have been beneficially entitled to it for any period for which his spouse or civil partnerwas beneficially entitled to it;

(b)

the condition set out in section 116(3)(a) shall be taken to be satisfied if and only if it is satisfied in relation to his spouse or civil partner; and

(c)

the condition set out in section 116(3)(b) shall be taken to be satisfied only if it is satisfied both in relation to him and in relation to his spouse or civil partner.

Annotations

Textual amendments

F1: Words in s. 120(1)(b)(2) inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 22

Notes on the whole Act

Textual amendments

F1: By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.

Notes on Chapter II

Modifications

C1: See Part IIof this volume—Finance Act 1975 Sch. 8—for the transitional relief provisions under Finance Act 1981 s. 96and Sch. 14.
C2: Pt. 5 Ch. 2 modified (temp.) (retrospective to 30.10.2024) by Finance Act 2026 (c. 11), Sch. 12 para. 15