Inheritance Tax Act 1984

6 Excluded property. U.K.

(1) Property situated outside the United Kingdom is excluded property if the person beneficially entitled to it is an individual domiciled outside the United Kingdom.

(2) Where securities have been issued by the Treasury subject to a condition authorised by section 22 of the M1 Finance (No. 2) Act 1931 (or section 47 of the M2 Finance (No. 2) Act 1915) for exemption from taxation so long as the securities are in the beneficial ownership of persons [F1 of a description specified in the condition], the securities are excluded property if they are in the beneficial ownership of such a person.

(3) Where the person beneficially entitled to the rights conferred by any of the following, namely—

(a) war savings certificates;

(b) national savings certificates (including Ulster savings certificates);

(c) premium savings bonds;

(d) deposits with the National Savings Bank or with a trustee savings bank;

(e) a certified contractual savings scheme within the meaning of section [F2 326 of the Taxes Act 1988];

is domiciled in the Channel Islands or the Isle of Man, the rights are excluded property.

(4) Property to which this subsection applies by virtue of section 155(1) below is excluded property.

Textual Amendments

F1 Words in s. 6(2) substituted (29.4.1996 with effect as mentioned in s. 154(9) of the amending Act) by 1996 c. 8, s. 154(7), Sch. 28 para. 7 (with s. 154(5))

F2 Substituted by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), Sch. 29, para. 32.Originally

“415 of The Taxes Act”.

Marginal Citations

M1 1931 c. 49.

M2 1915 c. 89.