Section 63A — Taxation of Chargeable Gains Act 1992: Death: application of law in Northern Ireland

Death: application of law in Northern Ireland 63A 1 The provisions of this Act, so far as relating to the consequences of the death of a person to whom property in Northern Ireland stands limited for life (“ the deceased ”), shall have effect subject to the provisions of this section.

2 A person who acquires property in fee simple absolute or fee tail in possession as a consequence of the deceased's death shall be deemed to have acquired all the assets forming part of the property at the date of the deceased's death for a consideration equal to their market value at that date.