Section 49D — Inheritance Tax Act 1984: Transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6th October 2008

Transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6th October 2008 49D 1 Where a person (“E”) is beneficially entitled to an interest in possession in settled property (“the successor interest”), that interest is a transitional serial interest for the purposes of this Chapter if the following conditions are met.

2 Condition 1 is that—

a the settlement commenced before 22nd March 2006, and b immediately before 22nd March 2006, the property then comprised in the settlement was property in which a person other than E was beneficially entitled to an interest in possession (“the previous interest”).

3 Condition 2 is that the previous interest came to an end on or after 6th October 2008 on the death of that other person (“F”).

4 Condition 3 is that, immediately before F died, F was the spouse or civil partner of E.

5 Condition 4 is that E became beneficially entitled to the successor interest on F's death.

6 Condition 5 is that—

a section 71A below does not apply to the property in which the successor interest subsists, and b the successor interest is not a disabled person's interest.