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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Death: non-trust life interests: leases for life


Leases for life and other leases which are for periods ascertainable by reference todeath are treated as settled property for the purposes of IHT. This treatment however doesnot apply for CGT. In general the termination of the lease, whether on death or within apredetermined period after death, would be treated in the same way as any other case wherea lease expires. See CG71302.