S.108 contains two deemed ownership provisions which apply for
the purposes of the general rule in s.106 and the replacement
property provisions in s.107 (s.108 does not apply for the purposes
of ss.109 and 109A).
S.108(a) provides that where the transferor became entitled
to property on the death of another person, the transferor is
treated as having owned it from the date of the other person's
death. S.91 brings business property included in an unadministered
residuary estate within this provision.
S.108(b) provides that where the person on whose death the
transferor became entitled to the property was his/her spouse, the
transferor is deemed for the purposes of ss.106 and 107 to have
owned the property for any period during which the spouse owned it
(irrespective of how long they had been married).
| Additional Guidance: SVM150000 |
