[162B Liabilities attributable to financing certain relievable property]
Inheritance Tax Act 1984 (1984 c 51) | Legislation

[162B  Liabilities attributable to financing certain relievable property]

[(1)     Subsection (2) applies if—

(a)     the whole or part of any value transferred by a transfer of value is to be treated as reduced, under section 104, by virtue of it being attributable to the value of relevant business property, and

(b)     the transferor has a liability which is attributable, in whole or in part, to financing (directly or indirectly)—

(i)     the acquisition of that property, or

(ii)     the maintenance, or an enhancement, of its value.

(2)     The liability is, so far as possible, to be taken to reduce the value attributable to the value of the relevant business property, before it is treated as reduced under section 104, but only to the extent that the liability—

(a)     is attributable as mentioned in subsection (1)(b), and

(b)     does not reduce the value of the relevant business property

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