Part V

Inheritance tax

Inland revenue charge.
107
1
In subsection (3) of section 237 of the Inheritance Tax Act 1984 (imposition of Inland Revenue charge), for “ “personal property” includes leaseholds” there shall be substituted “personal property” does not include leaseholds ”.
2
After subsection (3A) of that section there shall be inserted the following subsections—
3B
Subsection (3C) below applies to any tax charged—
a
under section 32, 32A or 79(3) above in respect of any property,
b
under paragraph 8 of Schedule 4 to this Act in respect of any property, or
c
under paragraph 1 or 3 of Schedule 5 to this Act with respect to any object or property.
3C
Where any tax to which this subsection applies, or any interest on it, is for the time being unpaid, a charge for the amount unpaid is also by virtue of this section imposed in favour of the Board—
a
except where the event giving rise to the charge was a disposal to a purchaser of the property or object in question, on that property or object; and
b
in the excepted case, on any property for the time being representing that property or object.
3
Subsection (1) above has effect in relation to deaths occurring on or after 9th March 1999; and subsection (2) above has effect in relation to tax charged on or after that day.
1984 c.51.