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SCHEDULE 2U.K. PROVISIONS APPLYING ON REDUCTION OF TAX

Conditionally exempt transfersU.K.

5U.K.Where tax is chargeable under section 32 [F1or 32A] of this Act by reason of a chargeable event occurring after a reduction and the rate or rates at which it is charged fall to be determined under the provisions of section 33(1)(b)(ii) by reference to a death which occurred before that reduction (or before that and one or more other reductions) those provisions shall apply as if [F2the Table] in Schedule 1 as substituted by that reduction (or by the most recent of those reductions) had been in force at the time of the death.

Textual Amendments

F1Finance Act 1985 Sch. 26, para. 5,in relation to events occurring after 18March 1985.

F2Finance Act 1986 Sch. 19, para. 37(1)(b),with effect from 18March 1986.Originally

“the Tables.”