{
  "url": "https://openlegislation.uk/inheritance-tax-act-1984/section-55A",
  "json_url": "https://openlegislation.uk/inheritance-tax-act-1984/section-55A.json",
  "legislation": "ukpga/1984/51",
  "legislation_title": "Inheritance Tax Act 1984",
  "legislation_url": "https://openlegislation.uk/inheritance-tax-act-1984",
  "path": "section/55A",
  "kind": "section",
  "number": "55A",
  "heading": "Purchased settlement powers",
  "text": "(1) Where a person makes a disposition by which he acquires a settlement power for consideration in money or money’s worth—\n(a) section 10(1) above shall not apply to the disposition;\n(b) the person shall be taken for the purposes of this Act to make a transfer of value;\n(c) the value transferred shall be determined without bringing into account the value of anything which the person acquires by the disposition; and\n(d) sections 18 and 23 to 27 above shall not apply in relation to that transfer of value.\n(2) For the purposes of this section, a person acquires a settlement power if he becomes entitled—\n(a) to a settlement power,\n(b) to exercise, or to secure or prevent the exercise of, a settlement power (whether directly or indirectly), or\n(c) to restrict, or secure a restriction on, the exercise of a settlement power (whether directly or indirectly),\nas a result of transactions which include a disposition (whether to him or another) of a settlement power or of any power of a kind described in paragraph (b) or (c) above which is exercisable in relation to a settlement power.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 55A inserted (24.7.2002 with effect as mentioned in s. 119(6) of the amending Act) by 2002 c. 23, s. 119(3)(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1984/51/section/55A",
    "retrieved_at": "2026-10-29T10:01:12.914001+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."
}