- Latest available (Revised)
- Point in Time (20/06/2012)
- Original (As enacted)
Version Superseded: 17/07/2013
Point in time view as at 20/06/2012. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
There are currently no known outstanding effects for the Inheritance Tax Act 1984, Section 71A.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
(1)This section applies to settled property (including property settled before 22nd March 2006) if—
(a)it is held on statutory trusts for the benefit of a bereaved minor under sections 46 and 47(1) of the Administration of Estates Act 1925 (succession on intestacy and statutory trusts in favour of issue of intestate), or
(b)it is held on trusts for the benefit of a bereaved minor and subsection (2) below applies to the trusts,
but this section does not apply to property in which a disabled person's interest subsists.
(2)This subsection applies to trusts—
(a)established under the will of a deceased parent of the bereaved minor, or
(b)established under the Criminal Injuries Compensation Scheme,[F2 or
(c)established under the Victims of Overseas Terrorism Compensation Scheme,]
which secure that the conditions in subsection (3) below are met.
(3)Those conditions are—
(a)that the bereaved minor, if he has not done so before attaining the age of 18, will on attaining that age become absolutely entitled to—
(i)the settled property,
(ii)any income arising from it, and
(iii)any income that has arisen from the property held on the trusts for his benefit and been accumulated before that time,
(b)that, for so long as the bereaved minor is living and under the age of 18, if any of the settled property is applied for the benefit of a beneficiary, it is applied for the benefit of the bereaved minor, and
(c)that, for so long as the bereaved minor is living and under the age of 18, either—
(i)the bereaved minor is entitled to all of the income (if there is any) arising from any of the settled property, or
(ii)no such income may be applied for the benefit of any other person.
(4)Trusts such as are mentioned in paragraph (a) [F3, (b) or (c)] of subsection (2) above are not to be treated as failing to secure that the conditions in subsection (3) above are met by reason only of—
(a)the trustees' having the powers conferred by section 32 of the Trustee Act 1925 (powers of advancement),
(b)the trustees' having those powers but free from, or subject to a less restrictive limitation than, the limitation imposed by proviso (a) of subsection (1) of that section,
(c)the trustees' having the powers conferred by section 33 of the Trustee Act (Northern Ireland) 1958 (corresponding provision for Northern Ireland),
(d)the trustees' having those powers but free from, or subject to a less restrictive limitation than, the limitation imposed by subsection (1)(a) of that section, or
(e)the trustees' having powers to the like effect as the powers mentioned in any of paragraphs (a) to (d) above.
(5)In this section “the Criminal Injuries Compensation Scheme” means—
(a)the schemes established by arrangements made under the Criminal Injuries Compensation Act 1995,
(b)arrangements made by the Secretary of State for compensation for criminal injuries in operation before the commencement of those schemes, and
(c)the scheme established under the Criminal Injuries Compensation (Northern Ireland) Order 2002.
(6)The preceding provisions of this section apply in relation to Scotland as if, in subsection (2) above, before “which” there were inserted the purposes of.]
Textual Amendments
F1Ss. 71A-71H inserted (22.3.2006) by Finance Act 2006 (c. 25), s. 156, Sch. 20 para. 1(1)(2)
F2S. 71A(2)(c) and preceding word inserted (8.4.2010) by Crime and Security Act 2010, ss. 48(4), 59(2)(b), {Sch. 2 para. 2(2)(a)}
F3Words in s. 71A(4) substituted (8.4.2010) by Crime and Security Act 2010, ss. 48(4), 59(2)(b), {Sch. 2 para. 2(2)(b)}
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: