Related Commentary  Related CasesRelated HMRC Manuals

102(1)  Subject to subsections (5) and (6) below, this section applies where, on or after 18th March 1986, an individual disposes of any property by way of gift and either–

(a)possession and enjoyment of the property is not bona fide assumed by the donee at or before the beginning of the relevant period; or

(b)at any time in the relevant period the property is not enjoyed to the entire exclusion, or virtually to the entire exclusion, of the donor and of any benefit to him by contract or otherwise;

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