64 Charge at ten-year anniversary
Inheritance Tax Act 1984 (1984 c 51) | Legislation

Principal charge to tax

64  Charge at ten-year anniversary

[(1)]     Where immediately before a ten-year anniversary all or any part of the property comprised in a settlement is relevant property, tax shall be charged at the rate applicable under sections 66 and 67 below on the value of the property or part at that time.

[(1A)     For the purposes of subsection (1) above, property held by the trustees of a settlement immediately before a ten-year anniversary is to be regarded as relevant property comprised in the settlement at that time if—

(a)     it is income of the settlement,

(b)     the income arose before the start of the five years ending immediately before the ten-year anniversary,

(c)

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