½Û×ÓÊÓƵ

Companies generally

An interest in possession to which a company is beneficially entitled is a qualifying interest in possession where the following conditions are fulfilled:

1. Ìý

   (i)ÌýÌýÌýÌý the business of the company consists wholly or mainly in the acquisition of interests in settled property

2. Ìý

   (ii)ÌýÌýÌýÌý the company has acquired the interest for full consideration in money or money's worth from an individual who was beneficially entitled to the interest; and

3. Ìý

   (iii)ÌýÌýÌýÌý if the individual became beneficially entitled to the interest in possession on or after 22 March 2006, the interest is an immediate post-death interest, a disabled person's interest, or a transitional serial interest, immediately before the company acquires it¹

Where a company has before 14 March 1975 made an acquisition of a kind falling within condition (ii), in relation to the interest in possession so acquired