Part 6 Conditional Exemption: Relief from Charges
Finance Act 2006 (2006 c 25) | Legislation

Part 6 Conditional Exemption: Relief from Charges

34

(1)     Section 79 of IHTA 1984 (subsection (3) of which provides for charges to tax where, in the case of settled property designated under section 31 on a claim under section 79, an event occurs that would be chargeable under section 32 or 32A if the claim had been under section 30) is amended as follows.

(2)     After subsection (5) (amount on which tax charged under subsection (3)) insert—

“(5A)     Where the event giving rise to a charge to tax under subsection (3) above is a disposal on sale, and the sale—

(a)     was not intended to confer any gratuitous benefit on any person, and

(b)     was either a transaction at arm's length between persons

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