Point in time view as at 05/12/2005.
Inheritance Tax Act 1984, Section 133 is up to date with all changes known to be in force on or before 05 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.
(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.
Textual Amendments
F1Words in s. 133(1)(2) inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 26
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