[3A Potentially exempt transfers]
Inheritance Tax Act 1984 (1984 c 51) | Legislation

[3A  Potentially exempt transfers]

[(1)     Any reference in this Act to a potentially exempt transfer is a reference to a transfer of value—

(a)     which is made by an individual on or after 18th March 1986 [but before 22nd March 2006]; and

(b)     which, apart from this section, would be a chargeable transfer (or to the extent to which, apart from this section, it would be such a transfer); and

(c)     to the extent that it constitutes either a gift to another individual or a gift into an accumulation and maintenance trust or a disabled trust;

.Ìý.Ìý..

[(1A)     Any reference in this Act to a potentially exempt transfer is also a reference to a transfer of value—

(a)     which is made by an individual on or after 22nd March 2006,

(b)     which, apart from this section, would be a chargeable transfer (or to the extent to which, apart from this section, it would be such a transfer), and

(c)     to the extent that it constitutes—

(i)     a gift to another individual,

(ii)     a gift into a disabled trust, or

(iii)     a gift into

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