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The Inheritance Tax (Delivery of Accounts) (Scotland) Regulations 2000
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- 2000 No. 966
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
Regulation 4 of the Capital Transfer Tax (Delivery of Accounts) (Scotland) Regulations 1981 (S.I. 1981/881) (“the principal Regulations”) provides that a person is not required to deliver an account of the property comprised in an excepted estate for inheritance tax purposes. (By virtue of section 100 of the Finance Act 1986 (c. 41) capital transfer tax is now known as inheritance tax.) An excepted estate is defined in regulation 3 of the principal Regulations.
These Regulations substitute a new definition of “an excepted estate ” in respect of deaths on or after 6th April 2000. The definition substituted differs from the previous definition in that the limit on the aggregate of the gross value of the deceased’s estate and of the value transferred by any specified transfers made by the deceased is raised from £200,000 to £210,000.
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