[SCHEDULE 1A Gifts to Charities etc: Tax Charged at Lower Rate]
Inheritance Tax Act 1984 (1984 c 51) | Legislation

[SCHEDULE 1A Gifts to Charities etc: Tax Charged at Lower Rate]

[Section 141A]

[Application of this Schedule

1

(1)     This Schedule applies if—

(a)     a chargeable transfer is made (under section 4) on the death of a person (“Dâ€), and

(b)     all or part of the value transferred by the chargeable transfer is chargeable to tax at a rate other than nil per cent.

(2)     The part of the value transferred that is chargeable to tax at a rate other than nil per cent is referred to in this Schedule as “TPâ€.

The relief

2

(1)     If the charitable giving condition is met—

(a)     the tax charged on the part of TP that qualifies for the lower rate of tax is to be charged at the lower rate of tax, and

(b)     the tax charged on any remaining part of TP is to be charged at the rate at which it would (but for this Schedule) have been charged on the whole of TP in accordance with section 7.

(2)     For the purposes of this paragraph, the charitable giving condition is met if, for one or more components of the estate (taking each component separately),

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