Point in time view as at 08/02/2023.
Finance Act 2003, Cross Heading: Purchaser bearing inheritance tax liability is up to date with all changes known to be in force on or before 06 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.
Textual Amendments
F1Sch. 4 paras. 16A-16C inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Stamp Duty Land Tax (Amendment to the Finance Act 2003) Regulations 2006 (S.I. 2006/875), regs. 1(1), 3
16AU.K.Where—
(a)there is a land transaction that is—
(i)a transfer of value within section 3 of the Inheritance Tax Act 1984 (transfers of value), or
(ii)a disposition, effected by will or under the law of intestacy, of a chargeable interest comprised in the estate of a person immediately before his death,
and
(b)the purchaser is or becomes liable to pay, agrees to pay or does in fact pay any inheritance tax due in respect of the transfer or disposition,
his liability, agreement or payment does not count as chargeable consideration for the transaction.]
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