Explanatory Notes

Finance Act 2013

2013 CHAPTER 29

17 July 2013

Introduction

Section 86: Decommissioning Relief: Removal of Iht Charges in Respect of Decommissioning Security Settlements

Summary

1.Section 86 removes the charge to inheritance tax (IHT) on property held in decommissioning security settlements. The section achieves this by amending the definition of relevant property at section 58(1) Inheritance Act 1984 (IHTA) to exclude property held in decommissioning security settlements from that definition. The change is treated as having come into force on 20 March 1993.