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HMRC internal manual

Capital Gains Manual

Interests in possession: interest for life of another

Under old Section 72(3)(a) `life interest’ included the right to the income from property,or the use or occupation of the property, for the life of a person other than the personentitled to the right.

For example, where a will or trust deed provided for the income to be paid to A for thelife of B, A had a life interest which would terminate on the death of B. See CG36453 forwhat applies when A or B die.