SCHEDULES
SCHEDULE 1Consequential amendments
Part 2Other enactments
Inheritance Tax Act 1984 (c. 51)
395
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
”
.