Search Legislation

Inheritance Tax Act 1984

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 133

 Help about opening options

Changes to legislation:

There are currently no known outstanding effects for the Inheritance Tax Act 1984, Section 133. Help about Changes to Legislation

133 Shares—capital receipts.U.K.

(1)If the transferred property consists of shares and at any time before the relevant date the transferee or his spouse [F1or civil partner] becomes entitled to a capital payment is respect of them, then for the purposes of section 131 above the market value of the transferred property on the relevant date shall (except where apart from this section it reflects a right to the payment) be taken to be increased by an amount equal to the payment.

(2)If at any time before the relevant date the transferee or his spouse [F1or civil partner] receives or becomes entitled to receive in respect of the transferred property a provisional allotment of shares and disposes of the rights, the amount of the consideration for the disposal shall be treated for the purposes of this section as a capital payment in respect of the transferred property.

(3)In this section “capital payment” means any money or money’s worth which does not constitute income for the purposes of income tax.

Back to top

Options/Help

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?