Interests in possession: introduction: death and trusts
An interest in possession is the right of the beneficiary to enjoy the income from thesettled property, see CG36320+. For the purposes of the legislation considered in thischapter it includes the right to income during someone else’s lifetime, and an annuitypaid out of the settled property. Not all interests in possession are life interests. FA96amended TCGA92/S72 and TCGA92/S73 so that provisions applying only to life interests inpossession now apply to all interests in possession, in the case of deaths on or after 6April 1996.