Part 4 The Future: Inheritance Tax
Finance Act 2012 (2012 c 14) | Legislation

Part 4 The Future: Inheritance Tax

Taxes affected

20

This Part affects inheritance tax.

Application of this Part

21

(1)     This Part applies if—

(a)     an amount is withheld under Article 32(2) in respect of relevant assets of a deceased person (“Pâ€), and

(b)     a certificate is issued under Article 32(6) in respect of the withholding of that amount.

(2)     The certificate is referred to in this Part as “the Article 32 certificateâ€.

(3)     The relevant assets in relation to which the Article 32 certificate is issued are referred to as “the cleared assetsâ€.

(4)     Any reference in this Part to “the chargeable transfer†is to the transfer made (under section 4 of IHTA 1984) on P's death.

Effect of Article 32 certificate

22

(1)     The cleared

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