157 Purchase of interests in foreign trusts
Finance Act 2006 (2006 c 25) | Legislation

157  Purchase of interests in foreign trusts

(1)     Section 48 of IHTA 1984 (settled property: excluded property) is amended as follows.

(2)     In subsection (3) (circumstances in which settled property situated outside the United Kingdom is excluded property), after paragraph (b) insert—

“; but this subsection is subject to subsection (3B) below.”.

(3)     In subsection (3A) (circumstances in which a holding in an authorised unit trust or a share in

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