SCHEDULE 1 Rate of Tax Charged under Chapter 3 of Part 3 IHTA 1984
Finance (No 2) Act 2015 (2015 c 33) | Legislation

SCHEDULE 1 Rate of Tax Charged under Chapter 3 of Part 3 IHTA 1984

Section 11

1

IHTA 1984 is amended as follows.

2

After section 62 insert—

“62A Same-day additions

(1)     For the purposes of this Chapter, there is a “same-day additionâ€, in relation to a settlement (“settlement Aâ€), if—

(a)     there is a transfer of value by a person as a result of which the value immediately afterwards of the property comprised in settlement A is greater than the value immediately before,

(b)     as a result of the same transfer of value, or as a result of another transfer of value made by that person on the same day, the value immediately afterwards of the property comprised in another settlement (“settlement Bâ€) is greater than the value immediately before,

(c)     that person is the settlor of settlement A and settlement B,

(d)     at any point in the relevant period, all or any part of the property comprised in settlement A was relevant property, and

(e)     at that point, or at any other point in the relevant period, all or any part of the property comprised in settlement B was relevant property.

For exceptions, see section

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