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Income Tax (Trading and Other Income) Act 2005

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Changes over time for: Cross Heading: Inheritance Tax Act 1984 (c. 51)

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Point in time view as at 07/04/2005.

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There are currently no known outstanding effects for the Income Tax (Trading and Other Income) Act 2005, Cross Heading: Inheritance Tax Act 1984 (c. 51). Help about Changes to Legislation

Inheritance Tax Act 1984 (c. 51)U.K.

393U.K.The Inheritance Tax Act 1984 is amended as follows.

394U.K.In section 6(3) (excluded property), in paragraph (e)—

(a)for “certified contractual savings scheme” substitute “ certified SAYE savings arrangement ”, and

(b)for “section 326 of the Taxes Act 1988” substitute “ section 703(1) of the Income Tax (Trading and Other Income) Act 2005 ”.

395U.K.In section 21(3) (normal expenditure out of income)—

(a)for “section 657 of the Taxes Act 1988” substitute “ section 423 of the Income Tax (Trading and Other Income) Act 2005 ”, and

(b)for “, for the purposes” to “annuity” substitute “ exempt from income tax under section 717 of that Act ”.

396U.K.In section 174(1) (liabilities for which allowance is to be made in determining the value of an estate) in paragraph (b)—

(a)for “Schedule 13 to the Finance Act 1996 (discounted securities)” substitute “ Chapter 8 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (deeply discounted securities) ”, and

(b)for “paragraph 4(2) of that Schedule” substitute “ section 437(2) of that Act ”.

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