Inheritance tax5

1

For the purposes of the Inheritance Tax Act 19842—

a

in determining the value of a person’s estate immediately before that person’s death, no account shall be taken of any value attributable to a right to, or interest in, an authorised payment made after that person’s death; and

b

in determining the value of relevant property immediately before a ten-year anniversary for the purposes of the charge under section 643 of the Inheritance Tax Act 1984, no account shall be taken of any value attributable to a right to, or interest in, an authorised payment made on or after that ten-year anniversary.

2

In this article—

  • “estate” has the meaning given by section 272 of the Inheritance Tax Act 1984;

  • “relevant property” has the meaning given by section 584 of that Act; and

  • “ten-year anniversary” has the meaning given by section 61 of that Act.