Reversionary lease schemes, like Ingram schemes, created a leasehold from an existing freehold. A reversionary lease scheme would involve such a leasehold interest being created in the same way, but it would take effect after a set period, usually less than 21 years. The lease would be gifted away and its value would be a PET in the normal way. The donor could continue to occupy the property until the deferred period with no IHT consequences.
Such arrangements do not fall within FA 1986, s 102A unless the freehold has been acquired within seven years before the grant of the lease (see I3.408,
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