The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021

Statutory Instruments

2021 No. 1167

Inheritance Tax

The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2021

Made

20th October 2021

Laid before the House of Commons

21st October 2021

Coming into force

1st January 2022

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations, in exercise of the powers conferred by sections 256(1), (1A) and (3) of the Inheritance Tax Act 1984(1) and now vested in them(2).

In accordance with section 256(3A) of that Act(3), they have consulted the Lord Chancellor, the Scottish Ministers and the Lord Chief Justice of Northern Ireland.

(1)

1984 c. 51. By virtue of section 100(1) and (2) of the Finance Act 1986 (c. 41), on and after 25th July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984, and any reference in that Act to capital transfer tax is to have effect as a reference to inheritance tax, except where the reference relates to a liability to tax arising before 25th July 1986. Section 256(1) of the Inheritance Tax Act 1984 (“IHTA 1984”) was amended by section 293(1) and (2) of the Finance Act 2004 (c. 12), and section 256(3) of IHTA 1984 was amended by section 293(1) and (5) of the Finance Act 2004.

(2)

The powers under section 256(1) of IHTA 1984 are stated to be exercisable by the Board. The Board is defined in section 272 of that Act as “the Commissioners of Inland Revenue”. The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(2) of the Commissioners for Revenue and Customs Act 2005 (c. 11). Section 50(1) of that Act provides that, insofar as is appropriate in consequence of section 5, a reference to the Commissioners of Inland Revenue (however expressed) shall be taken as a reference to the Commissioners for Her Majesty’s Revenue and Customs.

(3)

Section 256(3A) was inserted by section 293(1) and (6) of the Finance Act 2004. It was then substituted by paragraph 176 of Schedule 4 to the Constitutional Reform Act 2005 (c. 4).