(1)In section 53 of IHTA 1984 (exceptions from charge on termination of interest in possession), for subsection (2A) substitute—
“(2A)Subsection (2) above applies by virtue of the person becoming beneficially entitled on or after 12 March 2008 to another interest in possession in the property only if that other interest is—
(a)a disabled person’s interest, or
(b)a transitional serial interest;
and that is the case irrespective of whether the person’s beneficial entitlement to the interest in possession in the property which comes to an end is one which began before, or on or after, 22 March 2006.”
(2)The amendment made by subsection (1) is treated as having come into force on 22 March 2006 (so that paragraph 14(3) of Schedule 20 to FA 2006 is treated as never having had effect).
(1)In Chapter 2 of Part 3 of IHTA 1984 (interests in possession etc)—
(a)in section 49C (transitional serial interest: interest to which person becomes entitled on or after 22 March 2006 and before 6 April 2008), in subsection (3) and in the heading,
(b)in section 49D (transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6 April 2008), in subsection (3) and in the heading, and
(c)in section 49E (transitional serial interest: contracts of life insurance), in subsection (3),
for “April” substitute “October”.
(2)The amendments made by subsection (1) are treated as having come into force on 6 April 2008.