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Finance Act 1986
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Changes over time for: Paragraph 33
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- 01/02/1991- Amendment
- 01/12/2001
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Point in time view as at 01/12/2001.
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There are currently no known outstanding effects for the Finance Act 1986, Paragraph 33.
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33(1)In section 236 (application of section 233 in special cases etc.), in subsection (1)(a), for the words “three years”, in each place where they occur, there shall be substituted “ seven years ”.U.K.
(2)After subsection (1) of that section there shall be inserted the following subsection—
“(1A)Section 233 above shall apply in relation to the amount (if any) by which—
(a)the tax chargeable on the value transferred by a chargeable transfer made under Chapter III of Part III of this Act within the period of seven years ending with the settlor’s death,
exceeds
(b)what that tax would have been had the settlor dies more than seven years after the date of the transfer,
as if the chargeable transfer had been made on the death of the settlor.”
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