Introduction Details of the Section
2.Subsection (1) inserts new section 81A into the Inheritance Tax Act 1984 (IHTA):
	New section 81A(1) provides for there to be a disposition for IHT purposes where a reversionary interest (which is defined in section 47 of IHTA as a future interest in a trust) in relevant property comes to an end and the person takes the actual interest where that person:purchased the reversionary interest; orwhere the person who is entitled to the reversionary interest is the settlor or the spouse or civil partner of the settlor of the trust.
	New section 81A(2) provides that where a reversionary interest defined in new section 81A(1) is given away it will not be a potentially exempt transfer.
3.Subsection (2) provides for these changes to have effect for reversionary interests to which a person has become entitled in the circumstances specified in new section 81A on or after 9 December 2009.