Protection from the taxable property provisions is given where an investment-regulated pension scheme (see ¶375-400) legitimately held an indirect interest in a person at 6 April 2006 and that person subsequently an interest in taxable property. Different conditions apply for tangible moveable property (‘chattels’) and residential property.

Chattels

There are four conditions to be satisfied:

the scheme’s interest in the vehicle was acquired before 6 April 2006;

prior to that date it was not prohibited from holding that interest in the vehicle;

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