Section 6B “Long-term UK resident”: young personsF1

(1)

In the application of section 6A(1) for the purpose of determining whether a young person is a long-term UK resident at any time in a tax year (“the current tax year”), that subsection has effect as if—

(a)

for “20” there were substituted the number of whole tax years for which the person was alive before the current tax year, and

(b)

for “10” there were substituted half the number mentioned in paragraph (a) (rounded up, if not a whole number, to the next whole number).

(2)

In subsection (1), “young person” means an individual who was under the age of 20 immediately before the current tax year.

(3)

For the purposes of this Act, an individual is not a long-term UK resident at any time in a tax year if they were under the age of 1 (or were not yet born) immediately before the tax year.

Annotations

Textual amendments

F1: Ss. 6A-6C inserted (6.4.2025) by Finance Act 2025 (c. 8), s. 44(3)(4)

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.