SCHEDULES

SCHEDULE 37 Banks

Part III Other amendments

Amendments of the Inheritance Tax Act 1984

12

1

In section 157 of the M1Inheritance Tax Act 1984 (non-residents’ bank accounts), in subsection (5), for “the Bank of England, the Post Office or an authorised institution” there shall be substituted “ a bank or the Post Office ”.

2

After that subsection there shall be inserted the following subsection—

6

In this section “bank” has the meaning given by section 840A of the Taxes Act 1988.

3

This paragraph applies in relation to deaths occurring on or after the day on which this Act is passed.