Statutory Instruments
INHERITANCE TAX
Made
23rd May 1991
Laid before the House of Commons
31st May 1991
Coming into force
1st July 1991
The Commissioners of Inland Revenue, in exercise of the powersconferred on them by section 256(1) of the Inheritance Tax Act 1984(1), hereby make the following Regulations:
1. These Regulations may be cited as the Inheritance Tax (Delivery ofAccounts) Regulations 1991 and shall come into force on 1st July 1991.
2. These Regulations do not extend to Scotland or Northern Ireland.Interpretation
3. In these Regulations“the Principal Regulations” means the Capital Transfer Tax (Delivery of Accounts) Regulations1981(2).
4. In Regulation 3 of the Principal Regulations—
(a)in paragraph (b) for“£115,000” there shall be substituted“£125,000”;
(b)in paragraph (d) for“1st April 1990” there shall be substituted“1st April 1991”.
A J G Issac
L J H Beighton
Two of the Commissioners of Inland Revenue
23rd May 1991
(This note is not part of the Regulations)
The Principal Regulations (S.I. 1981/880) as amended by theInheritance Tax (Delivery of Accounts) Regulations 1990 (S.I.1990/1110)dispensed with the need to deliver an account for the purposes ofinheritance tax where (subject to specified exceptions) the value of adeceased’s estate did not exceed £115,000 and where the deceaseddied on or after 1st April 1990. These Regulations increase that limitto £125,000 in respect of deaths on or after 1st April 1991.
1984 c. 51. By virtue of section 100(1) and (2) of theFinance Act 1986 (c. 41) on and after 25th July 1986 the Capital TransferTax Act 1984 may be cited as the Inheritance Tax Act 1984, and anyreference in that Act to capital transfer tax is to have effect as areference to inheritance tax, except where the referencerelates to a liability arising before 25th July 1986.