The Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2004

Accounts

3.—(1) No person is required to deliver an account under section 216 of the 1984 Act(1) of the property comprised in an excepted estate.

(2) If in reliance on these Regulations a person has not delivered an account paragraphs (3) and (4) apply.

(3) If it is discovered at any time that the estate is not an excepted estate, the delivery to the Board within six months of that time of an account of the property comprised in that estate shall satisfy any requirement to deliver an account.

(4) If the estate is no longer an excepted estate following an alteration of the dispositions taking effect on death within section 142(2) of the 1984 Act, the delivery to the Board within six months of the date of the instrument of variation of an account of the property comprised in that estate shall satisfy any requirement to deliver an account.

(1)

Section 216 was amended by paragraph 11 of Schedule 26 to the Finance Act 1985 (c. 54), section 101(3) of and paragraph 29 of Schedule 19 to the Finance Act 1986, section 96 of and paragraph 4 of Schedule 7 to the Finance (No. 2) Act 1987 (c. 51) and section 105 of the Finance Act 1999.

(2)

Section 142 was amended by paragraph 24 of Schedule 19 to the Finance Act 1986 (c. 41) and by section 120(1) and (4) of the Finance Act 2002 (c. 23).