| Guvnor

Enforced by: HMRC
Status: Amended (in force with amendments)
Penalty ceiling: Prosecution 3 of 19 obligations carry a fine up to £3,000. 2 carry different penalties and 14 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person8 Trustee1 Responsible Person1

Plus 9 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Trustee — also bound by 104 other Acts

The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013 79 duties

The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations 2022 40 duties

Charities Act 2011 27 duties

Charities Act (Northern Ireland) 2008 22 duties

Insolvency (England and Wales) Rules 2016 21 duties

Responsible Person — also bound by 108 other Acts

MH(CT)(S)A 2003 30 duties

Climate Change Levy (General) Regulations 2001 24 duties

The Offshore Installations (Prevention of Fire and Explosion, and Emergency Response) Regulations 1995 21 duties

Offshore Installations (Offshore Safety Directive) (Safety Case ) Regulations 2015 21 duties

The Offshore Installations (Safety Case) Regulations 2005 19 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

GENERAL

1 of 41 sections shown

s.001 Charge on transfers. Regulated

Pay Inheritance Tax on chargeable transfersAny Person

40 other sections in this Part — procedural and definitional

s.002 Chargeable transfers and exempt transfers.

s.003 Transfers of value.

s.003 Potentially exempt transfers.

s.004 Transfers on death.

s.005 Meaning of estate.

s.006 Excluded property.

s.006 “Long-term UK resident”: individuals

s.006 “Long-term UK resident”: young persons

s.006 “Long-term UK resident”: bodies corporate

s.007 Rates.

s.008 Indexation of rate bands.

s.008 Transfer of unused nil-rate band between spouses and civil partners

s.008 Claims under section 8A

s.008 Section 8A and subsequent charges

s.008 Extra nil-rate band on death if interest in home goes to descendants etc

s.008 Residence nil-rate amount: interest in home goes to descendants etc

s.008 Residence nil-rate amount: no interest in home goes to descendants etc

s.008 Downsizing addition: entitlement: low-value death interest in home

s.008 Downsizing addition: entitlement: no residential interest at death

s.008 Downsizing addition: effect: section 8E case

s.008 Downsizing addition: effect: section 8F case

s.008 Calculation of lost relievable amount

s.008 Meaning of “brought-forward allowance”

s.008 Meaning of “qualifying residential interest” , “qualifying former residential interest” and “residential property interest”

s.008 Qualifying former residential interest”: interests in possession

s.008 Meaning of “inherited”

s.008 Meaning of “closely inherited”

s.008 Claims for brought-forward allowance and downsizing addition

s.008 Residence nil-rate amount: cases involving conditional exemption

s.009 Transitional provisions on reduction of tax.

s.010 Dispositions not intended to confer gratuitous benefit.

s.011 Dispositions for maintenance of family.

s.012 Dispositions allowable for income tax or conferring benefits under pension scheme.

s.012 Pension drawdown fund not used up: no deemed disposition

s.013 Dispositions by close companies for benefit of employees.

s.013 Dispositions by close companies to employee-ownership trusts

s.014 Waiver of remuneration.

s.015 Waiver of dividends.

s.016 Grant of tenancies of agricultural property.

s.017 Changes in distribution of deceased’s estate, etc.

Part 2

EXEMPT TRANSFERS

1 of 32 sections shown

s.035 Variation of undertakings. Regulated

Other duties (1) — Crown / regulator

Tribunal may force variation of tax undertakingsTribunal / Court

31 other sections in this Part — procedural and definitional

s.018 Transfers between spouses or civil partners.

s.019 Annual exemption.

s.020 Small gifts.

s.021 Normal expenditure out of income.

s.022 Gifts in consideration of marriage or civil partnership.

s.023 Gifts to charities or registered clubs.

s.024 Gifts to political parties.

s.024 Gifts to housing associations.

s.025 Gifts for national purposes, etc.

s.026 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

s.026 Potentially exempt transfer of property subsequently held for national purposes etc.

s.027 Maintenance funds for historic buildings, etc.

s.028 Employee trusts.

s.028 Employee-ownership trusts

s.029 Loans—modifications of exemptions.

s.029 Abatement of exemption where claim settled out of beneficiary’s own resources.

s.030 Conditionally exempt transfers.

s.031 Designation and undertakings.

s.032 Chargeable events.

s.032 Associated properties.

s.033 Amount of charge under section 32.

s.034 Reinstatement of transferor’s cumulative total.

s.035 Conditional exemption on death before 7th April 1976.

s.036 Preliminary.

s.037 Abatement of gifts.

s.038 Attribution of value to specific gifts.

s.039 Attribution of value to residuary gifts.

s.039 Operation of sections 38 and 39 in cases of business or agricultural relief.

s.040 Gifts made separately out of different funds.

s.041 Burden of tax.

s.042 Supplementary.

Part 3

SETTLED PROPERTY

2 of 88 sections shown

s.064 Charge at ten-year anniversary. Regulated

Pay Inheritance Tax on trust assets every ten yearsTrustee

s.079 Variation of undertakings. Regulated

Other duties (1) — Crown / regulator

Tribunal may vary tax undertakings if you refuse HMRC proposalsTribunal / Court

86 other sections in this Part — procedural and definitional

s.043 Settlement and related expressions.

s.044 Settlor.

s.045 Trustee.

s.046 Interest in possession: Scotland.

s.046 Contract of life insurance entered into before 22nd March 2006 which on that day is settled property in which interest in possession subsists

s.046 Contract of life insurance entered into before 22nd March 2006 which immediately before that day is property to which section 71 applies

s.047 Reversionary interest.

s.047 Settlement power

s.048 Excluded property : reversionary interests and Treasury securities.

s.048 Commencement of settlement

s.048 Excluded property: property situated outside the UK etc

s.049 Treatment of interests in possession.

s.049 Immediate post-death interest

s.049 Transitional serial interests

s.049 Transitional serial interest: interest to which person becomes entitled during period 22nd March 2006 to 5th October 2008

s.049 Transitional serial interest: interest to which person becomes entitled on death of spouse or civil partner on or after 6th October 2008

s.049 Transitional serial interest: contracts of life insurance

s.050 Interests in part, etc.

s.051 Disposal of interest in possession.

s.052 Charge on termination of interest in possession.

s.053 Exceptions from charge under section 52.

s.054 Exceptions from charge on death

s.054 Special rate of charge where settled property affected by potentially exempt transfer.

s.054 Provisions supplementary to section 54A.

s.055 Reversionary interest acquired by beneficiary.

s.055 Purchased settlement powers

s.056 Exclusion of certain exemptions.

s.057 Application of certain exemptions.

s.057 Relief where property enters maintenance fund.

s.058 Relevant property.

s.059 Qualifying interest in possession.

s.060 Commencement of settlement.

s.061 Ten-year anniversary.

s.062 Related settlements.

s.062 Same-day additions

s.062 Same day additions: exceptions

s.062 Protected settlements

s.063 Minor interpretative provisions.

s.065 Charge at other times.

s.066 Rate of ten-yearly charge.

s.067 Added property, etc.

s.068 Rate before first ten-year anniversary.

s.069 Rate between ten-year anniversaries.

s.070 Property leaving temporary charitable trusts.

s.071 Accumulation and maintenance trusts.

s.071 Trusts for bereaved minors

s.071 Charge to tax on property to which section 71A applies

s.071 Sections 71A and 71B: meaning of “bereaved minor”

s.071 Age 18-to-25 trusts

s.071 Charge to tax on property to which section 71D applies

s.071 Calculation of tax charged under section 71E in certain cases

s.071 Calculation of tax charged under section 71E in all other cases

s.071 Sections 71A to 71G: meaning of “parent”

s.072 Property leaving employee trusts and newspaper trusts.

s.073 Pre-1978 protective trusts.

s.074 Pre-1981 trusts for disabled persons.

s.074 Arrangements involving acquisition of interest in settled property etc

s.074 Section 74A: supplementary provision

s.074 Interpretation of sections 74A and 74B

s.075 Property becoming subject to employee trusts.

s.075 Property becoming subject to employee-ownership trust

s.075 Cap on charges for pre-30 October 2024 excluded property

s.076 Property becoming held for charitable purposes, etc.

s.077 Maintenance funds for historic buildings, etc.

s.078 Conditionally exempt occasions.

s.079 Exemption from ten-yearly charge.

s.080 Initial interest of settlor or spouse or civil partner.

s.081 Property moving between settlements.

s.081 Reversionary interests in relevant property

s.081 Excluded property: property to which section 80 applies

s.082 Excluded property : property to which section 81 applies (old cases)

s.082 Excluded property: property to which section 81 applies (new cases)

s.083 Property becoming settled on a death.

s.084 Income applied for charitable purposes.

s.085 Credit for annual charges under Finance Act 1975.

s.086 Trusts for benefit of employees.

s.087 Newspaper trusts.

s.088 Protective trusts.

s.089 Trusts for disabled persons.

s.089 Self-settlement by person expected to fall within the definition of “disabled person”

s.089 Meaning of “disabled person's interest”

s.089 Disabled person's interest: powers of advancement etc

s.090 Trustees’ annuities, etc.

s.091 Administration period.

s.092 Survivorship clauses.

s.093 Disclaimers.

Part 4

CLOSE COMPANIES

3 of 9 sections shown

s.100 Alterations of capital, etc. where participators are trustees.

amended 2 times (opens in a new tab)

s.101 Companies interests in settled property.

amended 1 time (opens in a new tab)

s.102 Interpretation.

amended 1 time (opens in a new tab)

6 other sections in this Part — procedural and definitional

s.094 Charge on participators.

s.095 Participator in two companies.

s.096 Preference shares disregarded.

s.097 Transfers within group, etc.

s.098 Effect of alterations of capital, etc

s.099 Transfers where participators are trustees.

Part 5

MISCELLANEOUS RELIEFS

42 of 83 sections shown

s.103 (1) In this Chapter references to a transfer of value...

amended 1 time (opens in a new tab)

s.104 The relief.

amended 6 times (opens in a new tab)

s.105 Relevant business property.

amended 19 times (opens in a new tab)

s.107 Replacements.

amended 4 times (opens in a new tab)

s.108 Successions.

amended 1 time (opens in a new tab)

s.109 Successive transfers.

amended 1 time (opens in a new tab)

s.109 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

amended 1 time

s.112 Exclusion of value of excepted assets.

amended 1 time (opens in a new tab)

s.115 Preliminary.

amended 5 times (opens in a new tab)

s.116 The relief.

amended 15 times (opens in a new tab)

s.120 Successions.

amended 2 times (opens in a new tab)

s.121 Successive transfers.

amended 1 time (opens in a new tab)

s.125 The relief.

amended 5 times (opens in a new tab)

s.126 Charge to tax on disposal of trees or underwood.

amended 1 time (opens in a new tab)

s.128 Rate of charge.

amended 2 times (opens in a new tab)

s.131 The relief.

amended 4 times (opens in a new tab)

s.133 Shares—capital receipts.

amended 2 times (opens in a new tab)

s.134 Payments of calls.

amended 1 time (opens in a new tab)

s.135 Reorganisation of share capital, etc.

amended 1 time (opens in a new tab)

s.136 Transactions of close companies.

amended 2 times (opens in a new tab)

s.137 Interests in land.

amended 1 time (opens in a new tab)

s.142 Alteration of dispositions taking effect on death.

amended 6 times (opens in a new tab)

s.144 Distribution etc. from property settled by will.

amended 6 times (opens in a new tab)

s.145 Redemption of surviving spouse’s or civil partner's life interest.

amended 3 times (opens in a new tab)

s.146 Inheritance (Provision for Family and Dependants) Act 1975.

amended 1 time (opens in a new tab)

s.147 Scotland; legitim. etc.

amended 11 times (opens in a new tab)

s.150 Voidable transfers.

amended 1 time (opens in a new tab)

s.150 Certain pension interests treated as part of estate

amended 1 time

s.151 Treatment of pension rights, etc.

amended 14 times (opens in a new tab)

s.151 Person dying with alternatively secured pension fund

amended 14 times

s.151 Relevant dependant with pension fund inherited from member over 75

amended 14 times

s.151 Rate or rates of charge under section 151B

amended 14 times

s.151 Dependant dying with other pension fund

amended 14 times

s.151 Unauthorised payment where person dies over 75 with pension or annuity

amended 14 times

s.151 Rate or rates of charge under section 151D

amended 14 times

s.152 Cash options.

amended 5 times (opens in a new tab)

s.154 Death on active service, etc.

amended 6 times (opens in a new tab)

s.155 Visiting forces, etc.

amended 6 times (opens in a new tab)

s.155 Death of constables and service personnel targeted because of their status

amended 6 times

s.155 Foreign diplomats etc

amended 6 times

s.157 Non-residents’ bank accounts.

amended 15 times (opens in a new tab)

s.158 Double taxation conventions.

amended 4 times (opens in a new tab)

41 other sections in this Part — procedural and definitional

s.106 Minimum period of ownership.

s.110 Value of business.

s.111 Value of certain shares and securities.

s.113 Contracts for sale.

s.113 Transfers within seven years before death of transferor.

s.113 Application of section 113A to replacement property.

s.114 Avoidance of double relief.

s.117 Minimum period of occupation or ownership.

s.118 Replacements.

s.119 Occupation by company or partnership.

s.122 Agricultural property of companies.

s.123 Provisions supplementary to section 122.

s.124 Contracts for sale.

s.124 Transfers within seven years before death of transferor.

s.124 Application of section 124A to replacement property.

s.124 Environmental management agreements

s.124 100% relief allowance

s.124 Transfer of unused 100% relief allowance

s.124 Claims under section 124E

s.124 100% trust relief allowance (relevant property)

s.124 Trust maximum allowance

s.124 Trust maximum allowance (qualifying pre-commencement settlements)

s.124 100% trust relief allowance (special trusts)

s.124 100% trust relief allowance (age 18-to-25 trusts)

s.127 Amount subject to charge.

s.129 Credit for tax charged.

s.130 Interpretation.

s.132 Wasting assets.

s.138 Leases.

s.139 Other property.

s.140 Interpretation.

s.141 Two or more transfers within five years.

s.141 Apportionment of relief under section 141

s.143 Compliance with testator’s request.

s.148 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

s.153 Overseas pensions.

s.153 Death of emergency service personnel etc

s.153 Qualifying payments

s.156 Apsley House and Chevening Estate.

s.159 Unilateral relief.

s.159 Treatment of dormant assets

Part 6

VALUATION

13 of 47 sections shown

s.161 Related property.

amended 2 times (opens in a new tab)

s.162 Liabilities.

amended 2 times (opens in a new tab)

s.162 Liabilities attributable to financing excluded property

amended 2 times

s.162 Liabilities attributable to financing non-residents' foreign currency accounts

amended 2 times

s.162 Liabilities attributable to financing certain relievable property

amended 2 times

s.162 Sections 162A , 162AA and 162B: supplementary provision

amended 2 times

s.174 Income tax and unpaid inheritance tax.

amended 5 times (opens in a new tab)

s.177 Scottish agricultural leases.

amended 2 times (opens in a new tab)

s.178 Preliminary.

amended 6 times (opens in a new tab)

s.179 The relief.

amended 1 time (opens in a new tab)

s.180 Effect of purchases.

amended 2 times (opens in a new tab)

s.190 Preliminary.

amended 1 time (opens in a new tab)

s.191 The relief.

amended 2 times (opens in a new tab)

34 other sections in this Part — procedural and definitional

s.160 Market value.

s.163 Restriction on freedom to dispose.

s.164 Transferor’s expenses.

s.165 Tax on capital gains.

s.166 Creditors’ rights.

s.167 Life policies, etc.

s.168 Unquoted shares and securities.

s.169 Farm cottages.

s.170 Leases for life, etc.

s.171 Changes occurring on death.

s.172 Funeral expenses.

s.173 Expenses incurred abroad.

s.175 Liability to make future payments, etc.

s.175 Discharge of liabilities after death

s.176 Related property etc.—sales.

s.181 Capital receipts.

s.182 Payment of calls.

s.183 Changes in holdings.

s.184 Exchanges.

s.185 Acquisition of like investments.

s.186 Value of part of a fund.

s.186 Cancelled investments.

s.186 Suspended investments.

s.187 Attribution of values to specific investments.

s.188 Limitation of loss on sale.

s.189 Date of sale or purchase.

s.192 Effect of purchases.

s.193 Changes between death and sale.

s.194 Leases.

s.195 Valuation by reference to other interests.

s.196 Sales to beneficiaries etc. and exchanges.

s.197 Compulsory acquisition more than three years after death.

s.197 Sales in fourth year after death.

s.198 Date of sale or purchase.

Part 7

LIABILITY

11 of 16 sections shown

s.200 Transfer on death.

amended 4 times (opens in a new tab)

s.201 Settled property.

amended 1 time (opens in a new tab)

s.203 Liability of spouse or civil partner.

amended 3 times (opens in a new tab)

s.204 Limitation of liability.

amended 1 time (opens in a new tab)

s.205 More than one person liable. Regulated

Joint and several liability for Inheritance TaxAny Person

s.207 Conditional exemption, etc.

amended 1 time (opens in a new tab)

s.209 Succession in Scotland.

amended 2 times (opens in a new tab)

s.210 Pension rights, etc.

amended 6 times (opens in a new tab)

s.211 Burden of tax on death.

amended 1 time (opens in a new tab)

s.212 Powers to raise tax.

amended 1 time (opens in a new tab)

s.214 Certificates of tax paid. Regulated

Other duties (1) — Crown / regulator

HMRC must provide a certificate of Inheritance Tax paid upon requestStatutory regulator

5 other sections in this Part — procedural and definitional

s.199 Dispositions by transferor.

s.202 Close companies.

s.206 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

s.208 Woodlands.

s.213 Refund by instalments.

Part 8

ADMINISTRATION AND COLLECTION

56 of 67 sections shown

s.216 Delivery of accounts.

amended 20 times (opens in a new tab)

s.217 Defective accounts. Regulated

Correct defective inheritance tax accounts within six monthsAny Person

s.218 Non-resident trustees.

amended 1 time (opens in a new tab)

s.218 Instruments varying dispositions taking effect on death Prosecution

Notify HMRC of changes to a will that increase Inheritance TaxResponsible Person

Fine up to £3,000 · amended 1 time

s.218 Pensions: information powers

amended 1 time

s.219 Power to require information.

amended 7 times (opens in a new tab)

s.219 Power to call for documents etc.

amended 7 times

s.219 Appeal against requirement to produce documents etc.

amended 7 times

s.220 Inspection of property.

amended 1 time (opens in a new tab)

s.220 Exchange of information with other countries.

amended 1 time

s.221 Notices of determination.

amended 1 time (opens in a new tab)

s.222 Appeals against determinations.

amended 11 times (opens in a new tab)

s.223 Late notice of appeal. Regulated

Other duties (1) — Crown / regulator

HMRC must accept late appeals if there is a reasonable excuseStatutory regulator

amended 1 time (opens in a new tab)

s.223 Appeal: HMRC review or determination by tribunal

amended 1 time

s.223 Appellant requires review by HMRC Regulated

Other duties (1) — Crown / regulator

HMRC must review a tax decision if you request itStatutory regulator

amended 1 time

s.223 HMRC offer review

amended 1 time

s.223 Notifying appeal to the tribunal

amended 1 time

s.223 Nature of review etc Regulated

Other duties (1) — Crown / regulator

HMRC must conduct reviews and notify you of the outcome within 45 daysStatutory regulator

amended 1 time

s.223 Effect of conclusions of review

amended 1 time

s.223 Notifying appeal to tribunal after review concluded

amended 1 time

s.223 Notifying appeal to tribunal after review offered but not accepted

amended 1 time

s.223 Interpretation of sections 223A to 223I

amended 1 time

s.224 Determination of appeal by tribunal.

amended 1 time (opens in a new tab)

s.225 Appeals from Special Commissioners.

amended 2 times (opens in a new tab)

s.225 Extension of regulation-making powers.

amended 2 times

s.226 Payment: general rules. Prosecution

Pay Inheritance Tax within statutory deadlinesAny Person

Unlimited fine · amended 6 times (opens in a new tab)

s.226 Tax on notional pension property: withholding of benefits

amended 6 times

s.226 Tax on notional pension property: direct payment by scheme administrator

amended 6 times

s.227 Payment by instalments—land, shares and businesses.

amended 3 times (opens in a new tab)

s.228 Shares, etc. within section 227.

amended 1 time (opens in a new tab)

s.230 Acceptance of property in satisfaction of tax.

amended 6 times (opens in a new tab)

s.232 Administration actions. Regulated

Other duties (1) — Crown / regulator

Courts must ensure unpaid Inheritance Tax is paid from property in leur controlTribunal / Court

s.233 Interest on unpaid tax.

amended 11 times (opens in a new tab)

s.234 Interest on instalments.

amended 8 times (opens in a new tab)

s.235 Interest on overpaid tax.

amended 1 time (opens in a new tab)

s.237 Imposition of charge.

amended 7 times (opens in a new tab)

s.238 Effect of purchases.

amended 2 times (opens in a new tab)

s.239 Certificates of discharge.

amended 3 times (opens in a new tab)

s.240 Underpayments.

amended 7 times (opens in a new tab)

s.240 Underpayments: supplementary

amended 7 times

s.240 Underpayments involving offshore matters etc

amended 7 times

s.241 Overpayments. Regulated

Other duties (1) — Crown / regulator

HMRC must repay overpaid Inheritance Tax and interestStatutory regulator

amended 2 times (opens in a new tab)

s.242 Recovery of tax.

amended 1 time (opens in a new tab)

s.244 Rights to address court.

amended 1 time (opens in a new tab)

s.245 Failure to deliver accounts. Prosecution

Fail to deliver Inheritance Tax accountsAny Person

Fine up to £3,000 · amended 6 times (opens in a new tab)

s.245 Failure to provide information etc.

amended 6 times

s.246 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..

amended 1 time (opens in a new tab)

s.247 Provision of incorrect information. Prosecution

Provide incorrect information for Inheritance TaxAny Person

Fine up to £3,000 · amended 8 times (opens in a new tab)

s.248 Failure to remedy errors. Regulated

Correct errors in Inheritance Tax documents without delayAny Person

amended 2 times (opens in a new tab)

s.249 Recovery of penalties. Prosecution

Recovery of Inheritance Tax penaltiesAny Person

Unlimited fine · amended 3 times (opens in a new tab)

s.250 Time limit for recovery.

amended 1 time (opens in a new tab)

s.251 Appeals against summary determination of penalties.

amended 2 times (opens in a new tab)

s.252 Effect of award by the tribunal.

amended 1 time (opens in a new tab)

s.254 Evidence.

amended 1 time (opens in a new tab)

s.256 Regulations about accounts, etc.

amended 10 times (opens in a new tab)

s.257 Form etc. of accounts.

amended 2 times (opens in a new tab)

11 other sections in this Part — procedural and definitional

s.215 General.

s.229 Payment by instalments—woodlands.

s.231 Powers to transfer property in satisfaction of tax.

s.236 Special cases.

s.243 Scotland: recovery of tax in sheriff court.

s.253 Mitigation of penalties.

s.255 Determination of questions on previous view of law.

s.258 Service of documents.

s.259 Inspection of records.

s.260 Inland Revenue Regulation Act 1890.

s.261 Scotland inventories.

Part 9

MISCELLANEOUS AND SUPPLEMENTARY

11 of 25 sections shown

s.264 Transfers reported late.

amended 4 times (opens in a new tab)

s.267 Persons treated as domiciled in United Kingdom.

amended 8 times (opens in a new tab)

s.267 Limited liability partnerships.

amended 8 times

s.267 Election to be treated as domiciled in United Kingdom

amended 8 times

s.267 Section 267ZA: further provision about election

amended 8 times

s.267 Election to be treated as a long-term UK resident

amended 8 times

s.267 Further provision about elections under section 267ZC

amended 8 times

s.267 Subject of domicile election treated as a long-term UK resident

amended 8 times

s.267 Double taxation conventions operating by reference to deemed domicile

amended 8 times

s.272 General interpretation.

amended 35 times (opens in a new tab)

s.273 Transition from estate duty. Regulated

Other duties (1) — Crown / regulator

HMRC must apply transitional rules for old estate duty casesStatutory regulator

14 other sections in this Part — procedural and definitional

s.262 Tax chargeable in certain cases of future payments, etc.

s.263 Annuity purchased in conjunction with life policy.

s.265 Chargeable transfers affecting more than one property.

s.266 More than one chargeable transfer on one day.

s.268 Associated operations.

s.269 Control of company.

s.270 Connected persons.

s.271 Property of corporations sole.

s.271 Qualifying non-UK pension scheme

s.274 Commencement.

s.275 Continuity, and construction of references to old and new law.

s.276 Consequential amendments.

s.277 Repeals.

s.278 Short title.

Schedules

0 of 108 shown

108 other schedules

s.001 Table of Rates of Tax

s.003 GIFTS FOR NATIONAL PURPOSES, ETC.

s.004 MAINTENANCE FUNDS FOR HISTORIC BUILDINGS, ETC.

s.005 CONDITIONAL EXEMPTION: DEATHS BEFORE 7TH APRIL 1976

s.006 TRANSITION FROM ESTATE DUTY

s.007 COMMENCEMENT: SUPPLEMENTARY RULES

s.sch001a Gifts to charities etc : tax charged at lower rate

s.sch001a (1) This Schedule applies if— (a) a chargeable transfer is...

s.sch001a In this Schedule, in relation to D— “ the chargeable...

s.sch001a (1) If the charitable giving condition is met—

s.sch001a (1) For the purposes of paragraph 2, the components of...

s.sch001a The donated amount, for a component of the estate, is...

s.sch001a The baseline amount, for a component of the estate, is...

s.sch001a (1) For the purpose of calculating the donated amount and...

s.sch001a (1) An election may be made under this paragraph if,...

s.sch001a (1) If an election is made under this paragraph in...

s.sch001a (1) An election under this Schedule must be made by...

s.sch002 PROVISIONS APPLYING ON REDUCTION OF TAX

s.sch002 In this Schedule— (a) references to a reduction are to...

s.sch002 Where a person who has made a potentially exempt transfer...

s.sch002 Where a person who has made a chargeable transfer other...

s.sch002 Where tax is chargeable under section 65 of this Act...

s.sch002 Where the value of any trees or underwood has been...

s.sch002 Where tax is chargeable under section 32 or 32A of...

s.sch002 Where tax is chargeable under paragraph 8 of Schedule 4...

s.sch002 Where tax is chargeable under section 151B of this Act...

s.sch004 (1) If the conditions mentioned in paragraph 2(1) below are...

s.sch004 (1) Tax shall not be charged under paragraph 8 above...

s.sch004 (1) This paragraph applies where tax is chargeable under paragraph...

s.sch004 (1) The first rate is the aggregate of the following...

s.sch004 (1) If the settlor is alive, the second rate is...

s.sch004 Where property is, by virtue of paragraph 1(3) above, treated...

s.sch004 (1) In relation to settled property to which this paragraph...

s.sch004 (1) Tax shall not be charged under section 65 of...

s.sch004 In paragraphs 16(2) and 17(4) above the references to the...

s.sch004 (1) The conditions referred to in paragraph 1 above are—...

s.sch004 (1) The requirements referred to in paragraph 2(1)(a)(i) above are...

s.sch004 (1) Paragraphs (a) and (b) of paragraph 3(1) above do...

s.sch004 If in the Treasury’s opinion the facts concerning any property...

s.sch004 Where a direction under paragraph 1 above has effect in...

s.sch004 (1) This paragraph applies to settled property which is held...

s.sch004 (1) Tax shall not be charged under paragraph 8 above...

s.sch005 (1) Where, under section 31 of the Finance Act 1975,...

s.sch005 (1) The following provisions of this paragraph shall have effect...

s.sch005 (1) Where, under subsection (2) of section 34 of the...

s.sch005 The tax chargeable under paragraph 3 above with respect to...

s.sch005 (1) The further undertaking referred to in paragraph 1 above...

s.sch005 A sale complies with this paragraph if—

s.sch005a Qualifying payments: victims of persecution during Second World War era

s.sch005a A payment of a fixed amount from the German foundation...

s.sch005a A one-off payment of a fixed amount from the Kindertransport...

s.sch005a A payment of a fixed amount in accordance with the...

s.sch005a A payment of a fixed amount from the Hardship Fund...

s.sch005a A payment of a fixed amount from the National Fund...

s.sch005a A payment of a fixed amount in respect of a...

s.sch005a A payment of a fixed amount by the Swiss Refugee...

s.sch005a A payment of a fixed amount under the foundation established...

s.sch005a A one-off payment of a fixed amount from the scheme...

s.sch005a A payment of a fixed amount from the Child Survivor...

s.sch006 References in any enactment, in any instrument made under any...

s.sch006 In determining for the purposes of this Act the value...

s.sch006 (1) Where a reversionary interest in settled property was before...

s.sch006 (1) In its application to a sale which does not...

s.sch007 In this Schedule “the repealed enactments” means the enactments repealed...

s.sch007 Section 220 of this Act shall come into force on...

s.sch007 Any order made under section 233 of this Act shall...

s.sch007 Where payments are made or assets transferred after the end...

s.sch007 Section 264 of this Act shall have effect (to the...

s.sch007 This Act shall not have effect in a case which...

s.sch007 Sections 126 to 130 of this Act shall have effect...

s.sch007 Where section 146 of this Act has effect in relation...

s.sch007 Section 147 of this Act, so far as it relates...

s.sch007 Section 150 of this Act shall have effect (to the...

s.sch007 Section 203 of this Act shall have effect (to the...

s.sch007 Section 218 of this Act, and section 245 so far...

s.sch007 Section 219 of this Act, and section 245 so far...

s.sch008 CONSEQUENTIAL AMENDMENTS

s.sch008 In section 8(1) of the National Heritage Act 1980 after...

s.sch008 In section 12(3) of the National Heritage Act 1980 for...

s.sch008 In section 13(3) of the National Heritage Act 1980 after...

s.sch008 In section 14(1) of the National Heritage Act 1980, for...

s.sch008 (1) Section 52 of the Finance Act 1980 shall be...

s.sch008 (1) Section 53 of the Finance Act 1980 shall be...

s.sch008 In section 98 of the Finance Act 1980 for the...

s.sch008 In section 14(1)(b) of the Crown Proceedings Act 1947, for...

s.sch008 In section 109 of the Supreme Court Act 1981—

s.sch008 In section 61(1) of the Finance Act 1982—

s.sch008 In section 62 of the Finance Act 1982 for the...

s.sch008 In Group 11 of Schedule 6 to the Value Added...

s.sch008 (1) In section 2 of the Land Charges Act 1972—...

s.sch008 In section 49(4) of the Finance Act 1975 after the...

s.sch008 In section 38 of the Finance Act 1977—

s.sch009 REPEALS

s.schedule a1 para.1 Property is not excluded property by virtue of section 6(1)...

s.schedule a1 para.10 In this Schedule “ partnership ” means—

s.schedule a1 para.2 (1) This paragraph applies to an interest in a close...

s.schedule a1 para.3 This paragraph applies to— (a) the rights of a creditor...

s.schedule a1 para.4 (1) For the purposes of this Schedule a loan is...

s.schedule a1 para.5 (1) This paragraph applies to— (a) property which constitutes consideration...

s.schedule a1 para.6 (1) In determining whether or to what extent property situated...

s.schedule a1 para.7 (1) Nothing in any double taxation relief arrangements made with...

s.schedule a1 para.7a In this Schedule “ relevant UK property ” means—

s.schedule a1 para.7b (1) In this Schedule “ UK agricultural property ” means...

s.schedule a1 para.8 (1) In this Schedule “ UK residential property interest ”...

s.schedule a1 para.9 (1) In this Schedule— “ close company ” means a...

3 other provisions

s.non-excluded overseas property Non-excluded overseas property

s.para.440 The National Gallery. The British Museum. The National Museums of...

s.table of derivations TABLE OF DERIVATIONS

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1 more guide that reference this instrument

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Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.

Inheritance Tax Act 1984

Does it bind you?

Other Acts binding the same actors

What it requires

GENERAL

EXEMPT TRANSFERS

SETTLED PROPERTY

CLOSE COMPANIES

MISCELLANEOUS RELIEFS

VALUATION

LIABILITY

ADMINISTRATION AND COLLECTION

MISCELLANEOUS AND SUPPLEMENTARY

Schedules

Help complying

Starting farming: complete compliance journey

What regulations apply to my farm?

Understand Environmental Land Management schemes

Farmer compliance checklist

Agricultural Property Relief and Business Property Relief for farms