Chwilio Deddfwriaeth

Inheritance Tax Act 1984

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Status:

Point in time view as at 01/04/2012. This version of this provision has been superseded. Help about Status

Changes to legislation:

Inheritance Tax Act 1984, Section 230 is up to date with all changes known to be in force on or before 17 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

230 Acceptance of property in satisfaction of tax.U.K.

(1)The Board may, if they think fit and the [F1Secretary of State agrees] , on the application of any person liable to pay tax or interest payable under section 233 below, accept in satisfaction of the whole or any part of it any property to which this section applies.

(2)This section applies to any such land as may be agreed upon between the Board and the person liable to pay tax.

(3)This section also applies to any objects which are or have been kept in any building—

(a)if the Board have determined to accept or have accepted that building in satisfaction or part satisfaction of tax or of estate duty, or

(b)if the building or any interest in it belongs to Her Majesty in right of the Crown or of the Duchy of Lancaster, or belongs to the Duchy of Cornwall or belongs to a Government department or is held for the purposes of a Government department, or

(c)if the building is one of which the Secretary of State is guardian under the M1Ancient Monuments and Archaeological Areas Act 1979 or of which the Department of the Environment for Northern Ireland is guardian under [F2the Historic Monuments and Archaeological Objects (Northern Ireland) Order 1995], or

(d)if the building belongs to any body within Schedule 3 to this Act,

in any case where it appears to the [F1Secretary of State] desirable for the objects to remain associated with the building.

(4)This section also applies to—

(a)any picture, print, book, manuscript, work of art, scientific object or other thing which the [F1Secretary of State is] satisfied is pre-eminent for its national, scientific, historic or artistic interest, and

(b)any collection or group of pictures, prints, books, manuscripts, works of art, scientific objects or other things if the [F1Secretary of State is] satisfied that the collection or group, taken as a whole, is pre-eminent for its national, scientific, historic or artistic interest.

(5)In this section—

  • F3. . .

  • national interest” includes interest within any part of the United Kingdom;

and in determining under subsection (4) above whether an object or collection or group of objects is pre-eminent, regard shall be had to any significant association of the object, collection or group with a particular place.

[F4(6)The functions of the Ministers under this section in relation to the acceptance, in satisfaction of tax, of property in which there is a Scottish interest may be exercised separately.

F4(7)For the purposes of subsection (6) a Scottish interest in the property exists–

(a)where the property is located in Scotland; or

(b)the person liable to pay the tax has expressed a wish or imposed a condition on his offer of the property in satisfaction of tax that it be displayed in Scotland or disposed of or transferred to a body or institution in Scotland.]

Textual Amendments

F3Definition in s. 230(5) omitted (3.7.1992) by virtue of S.I. 1992/1311, art. 12(2), Sch. 2 para. 6(5).

Modifications etc. (not altering text)

C1S. 230: functions of the Secretary of State in certain circumstances made exercisable concurrently with the National Assembly for Wales (31.12.2004) by The National Assembly for Wales (Transfer of Functions) Order 2004 (S.I. 2004/3044), art. 2, Sch. 1

C2S. 230: functions of the Lord President of the Council under s. 230 transferred (3.7.1992) to the Secretary of State by virtue of S.I. 1992/1311, art. 3(1), Sch. 1 Pt. I.

S. 230: transfer of functions (S.) (1.7.1999) by S.I. 1999/1750, arts. 1(1), 2, Sch. 1; S.I. 1998/3178, art. 3

Marginal Citations

Yn ôl i’r brig

Options/Cymorth

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open y Ddeddf Gyfan

Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open y Ddeddf Gyfan heb Atodlenni

Y Ddeddf Gyfan heb Atodlenni you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?