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HMRC internal manual

Capital Gains Manual

Death and Personal Representatives: Non-trust life interests: Death: non-trust life interests: leases for life

IHTA84/S43(3)

Leases for life and other leases which are for periods ascertainable by reference to death are treated as settled property for the purposes of IHT. This treatment however does not apply for CGT. In general the termination of the lease, whether on death or within a predetermined period after death, would be treated in the same way as any other case where a lease expires. See CG71300.