Version Superseded: 05/12/2005
Point in time view as at 27/07/1999. This version of this provision has been superseded.
Finance Act 1986, Section 102A is up to date with all changes known to be in force on or before 05 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies where an individual disposes of an interest in land by way of gift on or after 9th March 1999.
(2)At any time in the relevant period when the donor or his spouse enjoys a significant right or interest, or is party to a significant arrangement, in relation to the land—
(a)the interest disposed of is referred to (in relation to the gift and the donor) as property subject to a reservation; and
(b)section 102(3) and (4) above shall apply.
(3)Subject to subsections (4) and (5) below, a right, interest or arrangement in relation to land is significant for the purposes of subsection (2) above if (and only if) it entitles or enables the donor to occupy all or part of the land, or to enjoy some right in relation to all or part of the land, otherwise than for full consideration in money or money’s worth.
(4)A right, interest or arrangement is not significant for the purposes of subsection (2) above if—
(a)it does not and cannot prevent the enjoyment of the land to the entire exclusion, or virtually to the entire exclusion, of the donor; or
(b)it does not entitle or enable the donor to occupy all or part of the land immediately after the disposal, but would do so were it not for the interest disposed of.
(5)A right or interest is not significant for the purposes of subsection (2) above if it was granted or acquired before the period of seven years ending with the date of the gift.
(6)Where an individual disposes of more than one interest in land by way of gift, whether or not at the same time or to the same donee, this section shall apply separately in relation to each interest.]
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