SCHEDULES
SCHEDULE 28Inheritance of tax-relieved pension savings
Amendments of IHTA 1984
7
1
Section 151A (person dying with alternatively secured pension fund) is amended as follows.
2
In subsection (2), after “charged if it” insert “
and any amount on which tax was previously charged under this section in relation to the member
”
.
3
In subsection (4B) —
a
for the words from “that” to “per cent.” substitute “
amount that could be transferred by a chargeable transfer made (under section 4 above) on the member's death if it were to be wholly chargeable at the rate of nil per cent. (assuming, if necessary, that the value of the member's estate were sufficient but otherwise having regard to the circumstances of the member)
”
, and
b
for “that chargeable transfer” substitute “
the chargeable transfer so made
”
.