Schedule 20 FA 2006 - SP 10/79 and transitional serial interests
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STEP and CIOT recently asked HMRC to clarify a number of issues in relation to SP 10/79 (powers for trustees to allow a beneficiary to occupy a dwelling-house) in light of the provisions of Schedule 20. These issues include: when a SP10/79 interest arises, when it comes to an end and also whether such an interest can qualify as a transitional serial interest. HMRC have now responded, and STEP/CIOT's 26 September 2007 queries and HMRC's 20 November 2007 responses are attached as an Adobe (pdf) document.
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