SCHEDULES

SCHEDULE 37 U.K. Companies owned by employee-ownership trusts

PART 3 U.K. Inheritance tax relief

12 (1) In section 29A (abatement of exemption where claim settled out of beneficiary's own resources), in subsection (6)— U.K.

(a) for “to 28” substitute “ to 28A ”, and

(b) for “or 28” substitute “ , 28 or 28A ”.

(2) The amendment made by this paragraph has effect in relation to transfers of value made on or after 6 April 2014.