65 Charge at other times
Inheritance Tax Act 1984 (1984 c 51) | Legislation

65  Charge at other times

(1)     There shall be a charge to tax under this section—

(a)     where the property comprised in a settlement or any part of that property ceases to be relevant property (whether because it ceases to be comprised in the settlement or otherwise); and

(b)     in a case in which paragraph (a) above does not apply, where the trustees of the settlement make a disposition as a result of which the value of relevant property comprised in the settlement is less than it would be but for the disposition.

(2)     The amount on which tax is charged under this section shall be—

(a)     the amount by which the value of relevant property comprised in the settlement is less immediately after the event in question than it would be but for the event, or

(b)     where the tax payable is paid out of relevant property comprised in the settlement immediately after the event, the amount which, after deducting the tax, is equal to the amount on which tax would be charged by virtue of paragraph (a) above.

(3)

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