LegalizeReform history
Inheritance Tax Act 1984
74 versions
· 1984-07-31
2025-04-06
Inheritance Tax Act 1984
2025-03-21
Inheritance Tax Act 1984
2025-03-20
Inheritance Tax Act 1984
2024-11-04
Inheritance Tax Act 1984
2024-10-30
Inheritance Tax Act 1984
2024-10-21
Inheritance Tax Act 1984
2024-05-24
Inheritance Tax Act 1984
2022-06-06
Inheritance Tax Act 1984
2021-07-26
Inheritance Tax Act 1984
2021-06-10
Inheritance Tax Act 1984
2020-12-31
Inheritance Tax Act 1984
2020-07-22
Inheritance Tax Act 1984
2019-02-12
Inheritance Tax Act 1984
2018-04-01
Inheritance Tax Act 1984
2017-11-16
Inheritance Tax Act 1984
2016-09-15
Inheritance Tax Act 1984
2015-11-19
Inheritance Tax Act 1984
2015-11-18
Inheritance Tax Act 1984
2015-04-06
Inheritance Tax Act 1984
2015-03-26
Inheritance Tax Act 1984
2014-07-17
Inheritance Tax Act 1984
2014-04-06
Inheritance Tax Act 1984
2013-07-17
Inheritance Tax Act 1984
2013-04-01
Inheritance Tax Act 1984
2012-12-31
Inheritance Tax Act 1984
2012-07-17
Inheritance Tax Act 1984
2012-06-20
Inheritance Tax Act 1984
2012-04-01
Inheritance Tax Act 1984
2011-07-19
Inheritance Tax Act 1984
2011-06-16
Inheritance Tax Act 1984
2010-04-08
Inheritance Tax Act 1984
2010-04-01
Inheritance Tax Act 1984
2010-01-12
Inheritance Tax Act 1984
2010-01-01
Inheritance Tax Act 1984
2009-12-01
Inheritance Tax Act 1984
2009-10-31
Inheritance Tax Act 1984
2009-10-01
Inheritance Tax Act 1984
2009-07-21
Inheritance Tax Act 1984
2009-06-01
Inheritance Tax Act 1984
2009-04-06
Inheritance Tax Act 1984
2009-04-01
Inheritance Tax Act 1984
2009-03-28
Inheritance Tax Act 1984
2008-07-21
Inheritance Tax Act 1984
2008-04-06
Inheritance Tax Act 1984
2008-04-01
Inheritance Tax Act 1984
2007-10-09
Inheritance Tax Act 1984
2007-07-19
Inheritance Tax Act 1984
2007-04-06
Inheritance Tax Act 1984
2006-10-01
Inheritance Tax Act 1984
2006-07-19
Inheritance Tax Act 1984
2006-05-02
Inheritance Tax Act 1984
2006-04-06
Inheritance Tax Act 1984
2006-04-03
Inheritance Tax Act 1984
2006-03-22
Inheritance Tax Act 1984
2005-12-05
Inheritance Tax Act 1984
2005-04-07
Inheritance Tax Act 1984
2005-04-06
Inheritance Tax Act 1984
2005-03-16
Inheritance Tax Act 1984
2004-12-31
Inheritance Tax Act 1984
2004-11-01
Inheritance Tax Act 1984
2004-07-22
Inheritance Tax Act 1984
2004-03-17
Inheritance Tax Act 1984
2003-12-01
Inheritance Tax Act 1984
2003-10-13
Inheritance Tax Act 1984
2003-07-10
Inheritance Tax Act 1984
2003-04-06
Inheritance Tax Act 1984
2003-03-27
Inheritance Tax Act 1984
2002-10-16
Inheritance Tax Act 1984
2002-07-24
Inheritance Tax Act 1984
Changes on 2002-07-24
@@ -1026,7 +1026,7 @@
- (7) In this section “*qualifying interest in possession*” has the same meaning as in Chapter III of this Part of this Act.
### CHAPTER II — INTERESTS IN POSSESSION AND REVERSIONARY INTERESTS
### CHAPTER II — INTERESTS IN POSSESSION, REVERSIONARY INTERESTS AND SETTLEMENT POWERS
#### Treatment of interests in possession
@@ -1260,13 +1260,15 @@
- (a) the condition set out in paragraph (a) of that subsection shall be treated as satisfied if the business of the company was at the time of the acquisition such as is described in that paragraph, and
- (b) that condition need not be satisfied if the company is an insurance company (within the meaning of Chapter I of Part XII of the Taxes Act 1988) and either—
- (i) is authorised to carry on long term business under section 3 or 4 of the Insurance Companies Act 1982; or
- (ii) carries on through a branch or agency in the United Kingdom the whole or any part of any long term business which it is authorised to carry on by an authorisation granted outside the United Kingdom for the purposes of the first long term insurance Directive;
and in paragraph (b) above “*long term business*” and “*the first long term insurance Directive*” have the same meanings as in that Act of 1982.
- (b) that condition need not be satisfied if the company is an insurance company (within the meaning of Chapter I of Part XII of the Taxes Act 1988) and has permission—
- (i) under Part 4 of the Financial Services and Markets Act 2000, or
- (ii) under paragraph 15 of Schedule 3 to that Act (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule),
to effect or carry out contracts of long-term insurance.
- (4) In subsection (3)(b) above “contracts of long-term insurance” means contracts which fall within Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 .
#### Commencement of settlement
@@ -2090,7 +2092,15 @@
- (1) Where a close company (“the transferor company”) is a member, but not the principal company, of a group and—
- (a) a disposal by the transferor company of any asset is a disposal to which section 171(1) of the 1992 Act applies and is also a transfer of value, and
- (a) there is—
- (i) a disposal of an asset by the transferor company, which is a disposal to which section 171(1) of the 1992 Act applies, or
- (ii) by virtue of an election under section 171A(2) of that Act, a deemed transfer by the transferor company to another member of the group, or
- (iii) an election under section 179A of that Act as a result of which a chargeable gain is treated as accruing to the transferor company instead of to another member of the group, or an allowable loss is treated as accruing to another member of the group instead of to the transferor company,
- (aa) the disposal is also, or the election gives rise to, a transfer of value, and
- (b) the transfer of value has only a small effect on the value of the minority participators’ rights and interests in that company compared with its effect on the value of the other participators’ rights and interests in the company,
@@ -2950,19 +2960,21 @@
- (1) Where within the period of two years after a person’s death—
- (a) any of the dipositions (whether effected by will, under the law relating to intestacy or otherwise) of the property comprised in his estate immediately before his death are varied, or
- (a) any of the dispositions (whether effected by will, under the law relating to intestacy or otherwise) of the property comprised in his estate immediately before his death are varied, or
- (b) the benefit conferred by any of those dispositions is disclaimed,
by an instrument in writing made by the persons or any of the persons who benefit or would benefit under the dispositions, this Act shall apply as if the variation had been effected by the deceased or, as the case may be, the disclaimed benefit had never been conferred.
- (2) Subsection (1) above shall not apply to a variation unless an election to that effect is made by written notice given to the Board within six months after the date of the instrument, or such longer time as the Board may allow, by—
- (2) Subsection (1) above shall not apply to a variation unless the instrument contains a statement, made by all the relevant persons, to the effect that they intend the subsection to apply to the variation.
- (2A) For the purposes of subsection (2) above the relevant persons are—
- (a) the person or persons making the instrument, and
- (b) where the variation results in additional tax being payable, the personal representatives;
but personal representatives may decline to join in an election only if no, or no sufficient, assets are held by them in that capacity for discharging the additional tax.
- (b) where the variation results in additional tax being payable, the personal representatives.
Personal representatives may decline to make a statement under subsection (2) above only if no, or no sufficient, assets are held by them in that capacity for discharging the additional tax.
- (3) Subsection (1) above shall not apply to a variation or disclaimer made for any consideration in money or money’s worth other than consideration consisting of the making, in respect of another of the dispositions, of a variation or disclaimer to which that subsection applies.
@@ -3264,7 +3276,7 @@
- (b) the trustees of a settlement shall be regarded as not resident or ordinarily resident in the United Kingdom unless the general administration of the settlement is ordinarily carried on in the United Kingdom and the trustees or a majority of them (and, where there is more than one class of trustees, a majority of each class) are resident and ordinarily resident there.
- (5) In this section “*qualifying foreign currency account*” means a foreign currency account with a bank or the Post Office; and for this purpose—
- (5) In this section “*qualifying foreign currency account*” means a foreign currency account with a bank . . .; and for this purpose—
- (a) “*foreign currency account*” means any account other than one denominated in sterling, . . .
@@ -5404,7 +5416,7 @@
- “*personal representatives*” includes any person by whom or on whose behalf an application for a grant of administration or for the resealing of a grant made outside the United Kingdom is made, and any such person as mentioned in section 199(4)(a) above;
- “*property*” includes rights and interests of any description;
- “*property*” includes rights and interests of any description but does not include a settlement power ;
- “*purchaser*” means a purchaser in good faith for consideration in money or money’s worth other than a nominal consideration and includes a lessee, mortgagee or other person who for such consideration acquires an interest in the property in question;
@@ -5412,6 +5424,8 @@
- “*reversionary interest*” has the meaning given by section 47 above;
- “*settlement power*” has the meaning given by section 47A above;
- “*settlement*” and “*settled property*” shall be construed in accordance with section 43 above;
- “*settlor*” shall be construed in accordance with section 44 above;
@@ -6294,7 +6308,7 @@
## SCHEDULE 9
#### Chargeable transfers and exempt transfers.
#### Charge on transfers.
##### 3A
@@ -6958,7 +6972,7 @@
- (6) For the purposes of this section, a person shall be treated as acquiring property for a consideration in money or money’s worth if he becomes entitled to it as a result of transactions which include a disposition for such consideration (whether to him or another) of that or other property. ]
#### Qualifying interest in possession.
#### Relevant property.
##### 71A
@@ -7412,7 +7426,7 @@
- (3) Section 71D above does not apply to property in which there subsists a disabled person's interest within subsection (1)(c) above (but see also section 71D(5) above).
#### Relevant business property.
#### Effect of alterations of capital, etc
##### 109A
@@ -7726,7 +7740,7 @@
- (5) The rate or rates at which tax is charged under section 151B above is to be determined as if the new Table effecting the reduction of tax (or the most recent reduction of tax) had been in force at the time of the member's death.
#### Unauthorised payment where person dies over 75 with pension or annuity
#### The relief.
##### 151C
@@ -7828,9 +7842,9 @@
$$AEANRBM×100$where—AE is the adjusted excess, that is the amount by which M would be greater than VT under section 8A(2) above in the case of the member or dependant if—(a) the amount on which tax is charged under section 151D above were included in the value transferred by the chargeable value made on the death of the member or dependant, and(b) the nil-rate band maximum at the time of the death were ANRBM; andANRBM is the adjusted nil-rate band maximum, that is the nil-rate band maximum in the applicable Table (as reduced under subsection (5) above where that subsection applies).$
#### Overseas pensions.
#### Effect of conclusions of review
#### Dependant dying with other pension fund
#### Cash options.
##### 186A
@@ -8064,7 +8078,7 @@
- (9) If subsection (8) applies, HMRC must notify the appellant of the conclusion which the review is treated as having reached.
#### Effect of conclusions of review
#### Notifying appeal to tribunal after review concluded
##### 223F
@@ -8176,6 +8190,12 @@
- (b) to a further penalty not exceeding £60 for every day after the day on which the failure has been declared by a court or the Special Commissioners and before the day on which the return is made.
- (1A) A person who fails to comply with the requirements of section 218A above shall be liable—
- (a) to a penalty not exceeding £100; and
- (b) to a further penalty not exceeding £60 for every day after the day on which the failure has been declared by a court or the Special Commissioners and before the day on which the requirements are complied with.
- (2) A person who fails to comply with a notice under section 219 above shall be liable—
- (a) to a penalty not exceeding £300; and
@@ -8188,10 +8208,12 @@
- (b) to a further penalty not exceeding £30 for every day after the day on which the failure has been declared by a court or the Special Commissioners and before the day on which the notice is complied with.
- (4) A person shall not be liable to a penalty under subsection (1)(b), (2)(b) or (3)(b) above if—
- (4) A person shall not be liable to a penalty under subsection (1)(b), (1A)(b), (2)(b) or (3)(b) above if—
- (a) he makes the return required by section 218 above,
- (aa) he complies with the requirements of section 218A above,
- (b) he complies with the notice under section 219 above, or
- (c) he complies with the notice under section 219A(1) or (4) above,
@@ -8240,7 +8262,7 @@
Where tax is chargeable under section 151B of this Act on an occasion after a reduction and the rate or rates at which it is charged fall to be determined by reference to the death of a person which occurred before that reduction (or before that and one or more other reductions) that section applies as if the Table in Schedule 1 as substituted by that reduction (or by the most recent of those reductions) had been in force at the time of that person's death.
The National Gallery.
The British Museum.
### Maintenance fund following interest in possession
@@ -8550,6 +8572,8 @@
[^c13608661]: Finance Act 1987 Sch. 9, para. 1,*in relation to deaths occurring on or after* 17*March* 1987.
[^c13608551]: Words in the title of Chapter II substituted (24.7.2002 with effect in relation to transfers of value on or after 17.4.2002) by virtue of [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 119(5)(6)](https://www.legislation.gov.uk/ukpga/2002/23/section/119/5/6)
[^c19471851]: [Ss. 49A-49E](https://www.legislation.gov.uk/ukpga/1984/51/section/49A) inserted (22.3.2006) by [Finance Act 2006 (c. 25)](https://www.legislation.gov.uk/ukpga/2006/25), [s. 156](https://www.legislation.gov.uk/ukpga/2006/25/section/156), [Sch. 20 para. 5(1)(2)](https://www.legislation.gov.uk/ukpga/2006/25/schedule/20/paragraph/5/1/2)
[^c22729861]: Word in [s. 58(1)](https://www.legislation.gov.uk/ukpga/1984/51/section/58/1) omitted (retrospective to 20.3.1993) by virtue of [Finance Act 2013 (c. 29)](https://www.legislation.gov.uk/ukpga/2013/29), [s. 86(2)(4)](https://www.legislation.gov.uk/ukpga/2013/29/section/86/2/4) (with [s. 86(5)(6)](https://www.legislation.gov.uk/ukpga/2013/29/section/86/5/6))
@@ -8558,6 +8582,18 @@
[^c22729881]: [S. 58(5)(6)](https://www.legislation.gov.uk/ukpga/1984/51/section/58/5/6) inserted (retrospective to 20.3.1993) by [Finance Act 2013 (c. 29)](https://www.legislation.gov.uk/ukpga/2013/29), [s. 86(3)(4)](https://www.legislation.gov.uk/ukpga/2013/29/section/86/3/4) (with [s. 86(5)(6)](https://www.legislation.gov.uk/ukpga/2013/29/section/86/5/6))
[^c13608741]: Words in s. 59(3) substituted (1.5.1995 with effect as mentioned in [s. 52(5)](https://www.legislation.gov.uk/ukpga/1995/4/section/52/5) of the amending Act) by [1995 c. 4](https://www.legislation.gov.uk/ukpga/1995/4), [s. 52(4)](https://www.legislation.gov.uk/ukpga/1995/4/section/52/4)
[^c13608751]: [1984 c. 51](https://www.legislation.gov.uk/ukpga/1984/51).
[^c13608761]: Words in s. 59(3) substituted (1.12.2001 with effect as mentioned in art. 5(4) of the amending S.I.) by [S.I. 2001/3629](https://www.legislation.gov.uk/uksi/2001/3629), [art. 5(1)(2)(4)](https://www.legislation.gov.uk/uksi/2001/3629/article/5/1/2/4)
[^c13608771]: Schedule 3 was amended by regulation 8 of [S.I. 2000/2952](https://www.legislation.gov.uk/uksi/2000/2952).
[^c13608781]: S. 59(4) added (1.12.2001 with effect as mentioned in art. 5(4) of the amending S.I.) by [S.I. 2001/3629](https://www.legislation.gov.uk/uksi/2001/3629), [art. 5(1)(3)(4)](https://www.legislation.gov.uk/uksi/2001/3629/article/5/1/3/4)
[^c13608791]: [S.I. 2001/544](https://www.legislation.gov.uk/uksi/2001/544).
[^c13608801]: [1982 c. 39](https://www.legislation.gov.uk/ukpga/1982/39).
[^c13608811]: [S. 65](https://www.legislation.gov.uk/ukpga/1984/51/section/65) restricted (31.7.1998 with effect as mentioned in [s. 161(1)](https://www.legislation.gov.uk/ukpga/1998/36/section/161/1) of the amending Act) by [1998 c. 36](https://www.legislation.gov.uk/ukpga/1998/36), [s. 161(3)](https://www.legislation.gov.uk/ukpga/1998/36/section/161/3)
@@ -8692,6 +8728,24 @@
[^c13610011]: [1988 c. 1](https://www.legislation.gov.uk/ukpga/1988/1).
[^c13610181]: [S. 97](https://www.legislation.gov.uk/ukpga/1984/51/section/97) amended (28.7.2000 with effect on or after 1.4.2000) by [2000 c. 17](https://www.legislation.gov.uk/ukpga/2000/17), [s. 102](https://www.legislation.gov.uk/ukpga/2000/17/section/102), [Sch. 29 paras. 1](https://www.legislation.gov.uk/ukpga/2000/17/schedule/29/paragraph/1), [14](https://www.legislation.gov.uk/ukpga/2000/17/schedule/29/paragraph/14)
[^c13610191]: Finance Act 1989 s. 138(6)(a),*with effect from* 14*March* 1989.*Originally* “member”.
[^c13610201]: [S. 97(1)(a)(aa)](https://www.legislation.gov.uk/ukpga/1984/51/section/97/1/a/aa) substituted for para. (a) (11.5.2001 with effect as mentioned in [s. 106(3)](https://www.legislation.gov.uk/ukpga/2001/9/section/106/3) of the amending Act) by [2001 c. 9](https://www.legislation.gov.uk/ukpga/2001/9), [s. 106](https://www.legislation.gov.uk/ukpga/2001/9/section/106)
[^c13610221]: [S. 97(1)(a)(iii)](https://www.legislation.gov.uk/ukpga/1984/51/section/97/1/a/iii) and preceding word inserted (24.7.2002 with application as mentioned in [s. 42(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/42/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 42(3)(a)](https://www.legislation.gov.uk/ukpga/2002/23/section/42/3/a)
[^c22550211]: Words in [s. 97(1)(aa)](https://www.legislation.gov.uk/ukpga/1984/51/section/97/1/aa) substituted (24.7.2002 with application as mentioned in [s. 42(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/42/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 42(3)(b)](https://www.legislation.gov.uk/ukpga/2002/23/section/42/3/b)
[^c13610231]: Finance Act 1989 s. 138(6)(b),*with effect from* 14*March* 1989.*Originally* “the principal member of a group is the member of which all the other members are 75 per cent subsidiaries”.
[^c13610241]: Words in [s. 97](https://www.legislation.gov.uk/ukpga/1984/51/section/97) substituted (6.3.1992 with effect as mentioned in s. 289(1)(2) of the substituting Act) by [Taxation of Chargeable Gains Act 1992 (c. 12)](https://www.legislation.gov.uk/ukpga/1992/12), [ss. 289](https://www.legislation.gov.uk/ukpga/1992/12/section/289), [290](https://www.legislation.gov.uk/ukpga/1992/12/section/290), [Sch. 10 para. 8(4)(b)](https://www.legislation.gov.uk/ukpga/1992/12/schedule/10/paragraph/8/4/b) (with [ss. 60](https://www.legislation.gov.uk/ukpga/1992/12/section/60), [101(1)](https://www.legislation.gov.uk/ukpga/1992/12/section/101/1), [201(3)](https://www.legislation.gov.uk/ukpga/1992/12/section/201/3)).
[^c13610261]: Finance Act 1989 s. 138(6)(a),*with effect from* 14*March* 1989.*Originally* “member” *and* “member's” *respectively.*
[^c13610281]: *Repealed by* Finance Act 1989 s. 138(6)(c)*and* Sch.17 Part VII,*with effect from* 14*March* 1989.
[^c13610291]: Finance Act 1987 Sch. 8 para. 2(a),*with effect from* 17*March* 1987.*Originally* “shares or securities quoted on a recognised stock exchange”.
[^c13610301]: Finance Act 1987 Sch. 8 para. 2(b),*with effect from* 17*March* 1987.*Originally* “shares in or debentures of a close company which are not so quoted”.
@@ -8850,6 +8904,10 @@
[^c13611961]: [1975 c. 7](https://www.legislation.gov.uk/ukpga/1975/7).
[^c13611981]: S. 142(2)(2A) substituted for s. 142(2) (24.7.2002 with application as mentioned in [s. 120(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 120(1)(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/1/4)
[^c13611991]: Finance Act 1986 Sch. 19, para. 24,*with effect from* 18*March* 1986.
[^c13612001]: [1925 c. 23](https://www.legislation.gov.uk/ukpga/1925/23).
[^c13612011]: [1975 c. 63](https://www.legislation.gov.uk/ukpga/1975/63).
@@ -8892,6 +8950,14 @@
[^c13612291]: [1959 c.49](https://www.legislation.gov.uk/ukpga/1959/49)
[^c13612361]: Words in s. 157(5) substituted (29.4.1996 with effect in relation to deaths occurring on or after 29.4.1996) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 198](https://www.legislation.gov.uk/ukpga/1996/8/section/198), [Sch. 37 para. 12(1)(3)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37/paragraph/12/1/3)
[^c13612371]: Words in s. 157(5) repealed (26.3.2001) by [S.I. 2001/1149](https://www.legislation.gov.uk/uksi/2001/1149), [art. 3(2)](https://www.legislation.gov.uk/uksi/2001/1149/article/3/2), [Sch. 2](https://www.legislation.gov.uk/uksi/2001/1149/schedule/2) (with [art. 4(4)](https://www.legislation.gov.uk/uksi/2001/1149/article/4/4))
[^c13612381]: S. 157(5)(b) and the preceding “and” repealed (29.4.1996 with effect as mentioned in [Sch. 37](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37) of the amending Act) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 205](https://www.legislation.gov.uk/ukpga/1996/8/section/205), [Sch. 41 Pt. VIII(2)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/41/part/VIII/2), note
[^c13612401]: S. 157(6) inserted (29.4.1996 with effect in relation to deaths occurring on or after 29.4.1996) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 198](https://www.legislation.gov.uk/ukpga/1996/8/section/198), [Sch. 37 para. 12(2)(3)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37/paragraph/12/2/3)
[^c13612411]: *See* Finance Act 1986 s. 100(1) *and* (2)—*for any liability to tax arising on and after* 25*July* 1986*any reference in the legislation to capital transfer tax has effect as a reference to inheritance tax.*
[^c13612421]: *See* Finance Act 1986 s. 100(1) *and* (2)— *for any liability to tax arising on and after* 25*July* 1986 *any reference in the legislation to capital transfer tax has effect as a reference to inheritance tax.*
@@ -9134,6 +9200,12 @@
[^c13614721]: [Ss. 245](https://www.legislation.gov.uk/ukpga/1984/51/section/245), [245A](https://www.legislation.gov.uk/ukpga/1984/51/section/245A) substituted for s. 245 (27.7.1999 with effect as mentioned in [s. 108(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/3) of the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 108(1)(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/1/3)
[^c13614741]: [Ss. 245](https://www.legislation.gov.uk/ukpga/1984/51/section/245), [245A](https://www.legislation.gov.uk/ukpga/1984/51/section/245A) substituted for s. 245 by (27.7.1999 with effect as mentioned in [s. 108(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/3) of the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 108(1)(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/1/3)
[^c13614751]: [S. 245A(1A)](https://www.legislation.gov.uk/ukpga/1984/51/section/245A/1A) inserted (24.7.2002 with application as mentioned in [s. 120(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 120(3)(a)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/3/a),(4)
[^c13614771]: [S. 245A(4)(aa)](https://www.legislation.gov.uk/ukpga/1984/51/section/245A/4/aa) inserted (24.7.2002 with application as mentioned in [s. 120(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 120(3)(b)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/3/b),(4)
[^c13614781]: [S. 246](https://www.legislation.gov.uk/ukpga/1984/51/section/246) repealed (1.9.1994) by [S.I. 1994/1813](https://www.legislation.gov.uk/uksi/1994/1813), [reg. 2(1)](https://www.legislation.gov.uk/uksi/1994/1813/regulation/2/1), [Sch. 1 para. 20](https://www.legislation.gov.uk/uksi/1994/1813/schedule/1/paragraph/20), [Sch. 2 Pt. I](https://www.legislation.gov.uk/uksi/1994/1813/schedule/2/part/I)
[^c13614831]: Words in [s. 247(4)](https://www.legislation.gov.uk/ukpga/1984/51/section/247/4) substituted (27.7.1999 with effect as mentioned in s. 108(4) in the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 108(2)(c)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/2/c)
@@ -9174,6 +9246,24 @@
[^c13615081]: Words in [s. 270](https://www.legislation.gov.uk/ukpga/1984/51/section/270) substituted (6.3.1992 with effects as mentioned in s. 289(1)(2) of the substituting Act) by [Taxation of Chargeable Gains Act 1992 (c. 12)](https://www.legislation.gov.uk/ukpga/1992/12), [ss. 289](https://www.legislation.gov.uk/ukpga/1992/12/section/289), [290](https://www.legislation.gov.uk/ukpga/1992/12/section/290), [Sch. 10 para. 8(12)](https://www.legislation.gov.uk/ukpga/1992/12/schedule/10/paragraph/8/12) (with [ss. 60](https://www.legislation.gov.uk/ukpga/1992/12/section/60), [101(1)](https://www.legislation.gov.uk/ukpga/1992/12/section/101/1), [201(3)](https://www.legislation.gov.uk/ukpga/1992/12/section/201/3)).
[^c13615351]: Finance Act 1990 s. 127*and* Sch. 18, para. 4*with effect from* 1*April* 1990.*Originally* “52 of the Finance Act 1974” *and amended to* “519 of the Taxes Act 1988” *by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).
[^c13615361]: Words in s. 272 inserted (24.7.2002 with effect as mentioned in [s. 119(6)(7)](https://www.legislation.gov.uk/ukpga/2002/23/section/119/6/7) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 119(4)(6)(7)](https://www.legislation.gov.uk/ukpga/2002/23/section/119/4/6/7)
[^c13615371]: Finance Act 1987 Sch. 8, para. 17,*with effect from* 17 *March* 1987.
[^c13615381]: S. 272: words in the definition of “quoted” and “unquoted” substituted (29.4.1996 with effect as mentioned in [Sch. 38 para. 2(2)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/38/paragraph/2/2) of the amending Act) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 199](https://www.legislation.gov.uk/ukpga/1996/8/section/199), [Sch. 38 para. 2(1)(b)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/38/paragraph/2/1/b)
[^c13615401]: Words in s. 272 inserted (24.7.2002 with effect as mentioned in [s. 119(6)(7)](https://www.legislation.gov.uk/ukpga/2002/23/section/119/6/7) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 119(4)(6)(7)](https://www.legislation.gov.uk/ukpga/2002/23/section/119/4/6/7)
[^c13615431]: “1970” *inserted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).
[^c13615441]: [1970 c.10](https://www.legislation.gov.uk/ukpga/1970/10).
[^c13615451]: Income and Corporation Taxes Act Sch. 29, para. 32.
[^c13615461]: Words in s. 272 added (6.3.1992 with effects as mentioned in [s. 289(1)(2)](https://www.legislation.gov.uk/ukpga/1992/12/section/289/1/2) of the amending Act) by [Taxation of Chargeable Gains Act 1992 (c. 12)](https://www.legislation.gov.uk/ukpga/1992/12), [ss. 289](https://www.legislation.gov.uk/ukpga/1992/12/section/289), [290](https://www.legislation.gov.uk/ukpga/1992/12/section/290), [Sch. 10 para. 8(13)](https://www.legislation.gov.uk/ukpga/1992/12/schedule/10/paragraph/8/13) (with [ss. 60](https://www.legislation.gov.uk/ukpga/1992/12/section/60), [101(1)](https://www.legislation.gov.uk/ukpga/1992/12/section/101/1), [201(3)](https://www.legislation.gov.uk/ukpga/1992/12/section/201/3)).
[^c21431991]: [S. 271A](https://www.legislation.gov.uk/ukpga/1984/51/section/271A) inserted (retrospective to 6.4.2006) by [Finance Act 2008 (c. 9)](https://www.legislation.gov.uk/ukpga/2008/9), [s. 92](https://www.legislation.gov.uk/ukpga/2008/9/section/92), [Sch. 29 para. 18(6)(8)](https://www.legislation.gov.uk/ukpga/2008/9/schedule/29/paragraph/18/6/8)
[^c13615471]: *By* Finance Act 1986 s. 100(1),*on and after* 25*July* 1986*the* 1984*Act may be cited as the Inheritance Tax Act and the tax charged under the* 1984*Act shall be known as inheritance tax.*
@@ -9356,36 +9446,16 @@
[^c13608611]: Finance Act 1986 Sch. 19 para. 15,*with effect from* 18*March* 1986*and repealed by* Finance (No.2) Act 1987 s. 96(5)*and* Sch. 9 Part III,*with effect from* 17*March* 1987.
[^c13608711]: [S. 59(3)(b)(i)(ii)](https://www.legislation.gov.uk/ukpga/1984/51/section/59/3/b/i/ii) and words in s. 59(3)(b) substituted (1.5.1995 with effect as mentioned in [s. 52(5)](https://www.legislation.gov.uk/ukpga/1995/4/section/52/5) of the amending Act) by [1995 c. 4](https://www.legislation.gov.uk/ukpga/1995/4), [s. 52(4)](https://www.legislation.gov.uk/ukpga/1995/4/section/52/4)
[^c13608721]: [1984 c. 51](https://www.legislation.gov.uk/ukpga/1984/51).
[^c13608731]: [1982 c. 50](https://www.legislation.gov.uk/ukpga/1982/50).
[^c13609981]: *Substituted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “Part XV of The Taxes Act”.
[^c13609991]: *Substituted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “239 of the Taxes Act”.
[^c13610021]: *Substituted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “234(3) of the Taxes Act”.
[^c13610091]: [S. 97](https://www.legislation.gov.uk/ukpga/1984/51/section/97) amended (28.7.2000 with effect on or after 1.4.2000) by [2000 c. 17](https://www.legislation.gov.uk/ukpga/2000/17), [s. 102](https://www.legislation.gov.uk/ukpga/2000/17/section/102), [Sch. 29 paras. 1](https://www.legislation.gov.uk/ukpga/2000/17/schedule/29/paragraph/1), [14](https://www.legislation.gov.uk/ukpga/2000/17/schedule/29/paragraph/14)
[^c13610101]: Finance Act 1989 s. 138(6)(a),*with effect from* 14*March* 1989.*Originally* “member”.
[^c13610111]: Words in [s. 97](https://www.legislation.gov.uk/ukpga/1984/51/section/97) substituted (6.3.1992 with effect as mentioned in s. 289(1)(2) of the substituting Act) by [Taxation of Chargeable Gains Act 1992 (c. 12)](https://www.legislation.gov.uk/ukpga/1992/12), [ss. 289](https://www.legislation.gov.uk/ukpga/1992/12/section/289), [290](https://www.legislation.gov.uk/ukpga/1992/12/section/290), [Sch. 10 para. 8(4)(b)](https://www.legislation.gov.uk/ukpga/1992/12/schedule/10/paragraph/8/4/b) (with [ss. 60](https://www.legislation.gov.uk/ukpga/1992/12/section/60), [101(1)](https://www.legislation.gov.uk/ukpga/1992/12/section/101/1), [201(3)](https://www.legislation.gov.uk/ukpga/1992/12/section/201/3)).
[^c13610121]: Finance Act 1989 s. 138(6)(b),*with effect from* 14*March* 1989.*Originally* “the principal member of a group is the member of which all the other members are 75 per cent subsidiaries”.
[^c13610151]: Finance Act 1989 s. 138(6)(a),*with effect from* 14*March* 1989.*Originally* “member” *and* “member's” *respectively.*
[^c13610171]: *Repealed by* Finance Act 1989 s. 138(6)(c)*and* Sch.17 Part VII,*with effect from* 14*March* 1989.
[^c13610341]: *Substituted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “Chapter III of Part XI of the Taxes Act”.
[^c13610381]: [1985 c. 6](https://www.legislation.gov.uk/ukpga/1985/6)
[^c13611971]: Finance Act 1986 Sch. 19, para. 24,*with effect from* 18*March* 1986.
[^c13612041]: [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “218 of the Taxes Act”.
[^c13612051]: [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “226 or 226A”.
@@ -9408,12 +9478,6 @@
[^c13612141]: [1956 c. 54](https://www.legislation.gov.uk/ukpga/1956/54).
[^c13612321]: Words in [s. 157(5)](https://www.legislation.gov.uk/ukpga/1984/51/section/157/5) substituted (29.4.1996 with effect in relation to deaths occurring on or after 29.4.1996) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 198](https://www.legislation.gov.uk/ukpga/1996/8/section/198), [Sch. 37 para. 12(1)(3)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37/paragraph/12/1/3)
[^c13612331]: [S. 157(5)(b)](https://www.legislation.gov.uk/ukpga/1984/51/section/157/5/b) and the preceding “and” repealed (29.4.1996 with effect as mentioned in [Sch. 37](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37) of the amending Act) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 205](https://www.legislation.gov.uk/ukpga/1996/8/section/205), [Sch. 41 Pt. VIII(2)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/41/part/VIII/2), note
[^c13612351]: [S. 157(6)](https://www.legislation.gov.uk/ukpga/1984/51/section/157/6) inserted (29.4.1996 with effect in relation to deaths occurring on or after 29.4.1996) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 198](https://www.legislation.gov.uk/ukpga/1996/8/section/198), [Sch. 37 para. 12(2)(3)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/37/paragraph/12/2/3)
[^c13612731]: [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “VII of Part II of the Finance Act 1984”.
[^c13612741]: [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).*Originally* “92(3)”.
@@ -9450,7 +9514,7 @@
[^c13614821]: Words in [s. 247(3)](https://www.legislation.gov.uk/ukpga/1984/51/section/247/3) substituted (27.7.1999 with effect as mentioned in s. 108(4) in the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 108(2)(b)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/2/b)
[^c13614731]: [S. 245](https://www.legislation.gov.uk/ukpga/1984/51/section/245), [245(A)](https://www.legislation.gov.uk/ukpga/1984/51/section/245/A) substituted for s. 245 by (27.7.1999 with effect as mentioned in [s. 108(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/3) of the amending Act) by [1999 c. 16](https://www.legislation.gov.uk/ukpga/1999/16), [s. 108(1)(3)](https://www.legislation.gov.uk/ukpga/1999/16/section/108/1/3)
[^c13614761]: Words in [s. 245A(4)](https://www.legislation.gov.uk/ukpga/1984/51/section/245A/4) inserted (24.7.2002 with application as mentioned in [s. 120(4)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/4) of the amending Act) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 120(3)(b)](https://www.legislation.gov.uk/ukpga/2002/23/section/120/3/b),(4)
[^c13614871]: [1981 c.54](https://www.legislation.gov.uk/ukpga/1981/54);
@@ -9458,23 +9522,9 @@
[^c13614891]: [S.I. 1979/1575 (N.I. 14)](https://www.legislation.gov.uk/nisi/1979/1575).
[^c13615251]: Finance Act 1990 s. 127*and* Sch. 18, para. 4*with effect from* 1*April* 1990.*Originally* “52 of the Finance Act 1974” *and amended to* “519 of the Taxes Act 1988” *by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).
[^c13615261]: Finance Act 1987 Sch. 8, para. 17,*with effect from* 17*March* 1987.
[^c13615271]: [S. 272](https://www.legislation.gov.uk/ukpga/1984/51/section/272): words in the definition of “quoted” and “unquoted” substituted (29.4.1996 with effect as mentioned in [Sch. 38 para. 2(2)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/38/paragraph/2/2) of the amending Act) by [1996 c. 8](https://www.legislation.gov.uk/ukpga/1996/8), [s. 199](https://www.legislation.gov.uk/ukpga/1996/8/section/199), [Sch. 38 para. 2(1)(b)](https://www.legislation.gov.uk/ukpga/1996/8/schedule/38/paragraph/2/1/b)
[^c13615291]: [1970 c.9](https://www.legislation.gov.uk/ukpga/1970/9).
[^c13615311]: “1970” *inserted by* [Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1)](https://www.legislation.gov.uk/ukpga/1988/1), [Sch. 29](https://www.legislation.gov.uk/ukpga/1988/1/schedule/29), [para. 32](https://www.legislation.gov.uk/ukpga/1988/1/paragraph/32).
[^c13615321]: [1970 c.10](https://www.legislation.gov.uk/ukpga/1970/10).
[^c13615331]: Income and Corporation Taxes Act Sch. 29, para. 32.
[^c13615341]: Words in [s. 270](https://www.legislation.gov.uk/ukpga/1984/51/section/270) added (6.3.1992 with effects as mentioned in [s. 289(1)(2)](https://www.legislation.gov.uk/ukpga/1992/12/section/289/1/2) of the amending Act) by [Taxation of Chargeable Gains Act 1992 (c. 12)](https://www.legislation.gov.uk/ukpga/1992/12), [ss. 289](https://www.legislation.gov.uk/ukpga/1992/12/section/289), [290](https://www.legislation.gov.uk/ukpga/1992/12/section/290), [Sch. 10 para. 8(13)](https://www.legislation.gov.uk/ukpga/1992/12/schedule/10/paragraph/8/13) (with [ss. 60](https://www.legislation.gov.uk/ukpga/1992/12/section/60), [101(1)](https://www.legislation.gov.uk/ukpga/1992/12/section/101/1), [201(3)](https://www.legislation.gov.uk/ukpga/1992/12/section/201/3)).
[^c13615581]: [Sch. 1](https://www.legislation.gov.uk/ukpga/1984/51/schedule/1) Table substituted, unless Parliament determined otherwise (21.3.2000 in relation to chargeable transfers made on or after 6.4.2000) by [S.I. 2000/803](https://www.legislation.gov.uk/uksi/2000/803), [art. 2](https://www.legislation.gov.uk/uksi/2000/803/article/2)
[^c13615411]: [1970 c.9](https://www.legislation.gov.uk/ukpga/1970/9).
[^c13615601]: [Sch. 1](https://www.legislation.gov.uk/ukpga/1984/51/schedule/1) Table substituted (24.7.2002 with application in relation to chargeable transfers made on or after 6.4.2002) by [2002 c. 23](https://www.legislation.gov.uk/ukpga/2002/23), [s. 118](https://www.legislation.gov.uk/ukpga/2002/23/section/118)
[^c13616071]: Entry in Sch. 3 substituted (30.1.2001) by [2000 c. 37](https://www.legislation.gov.uk/ukpga/2000/37), [ss. 73(4)](https://www.legislation.gov.uk/ukpga/2000/37/section/73/4), [103(2)](https://www.legislation.gov.uk/ukpga/2000/37/section/103/2), [Sch. 8 para. 1(i)](https://www.legislation.gov.uk/ukpga/2000/37/schedule/8/paragraph/1/i)
2001-01-30
Inheritance Tax Act 1984
1995-05-01
Inheritance Tax Act 1984
1994-09-01
Inheritance Tax Act 1984
1993-03-20
Inheritance Tax Act 1984
1984-07-31
Inheritance Tax Act 1984
original version
Text at this date