Statutory Instruments
2000 No. 965
INHERITANCE TAX
The Inheritance Tax (Delivery of Accounts) (Northern Ireland) Regulations 2000
Made
3rd April 2000
Laid before the House of Commons
4th April 2000
Coming into force
1st May 2000
The Commissioners of Inland Revenue, in exercise of the powers conferred on them by section 256(1)(a) of the Inheritance Tax Act 1984( 1 ), hereby make the following Regulations:
1. —(1) These Regulations may be cited as the Inheritance Tax (Delivery of Accounts) (Northern Ireland) Regulations 2000, shall come into force on 1st May 2000 and shall have effect in relation to deaths occurring on or after 6th April 2000.
(2) These Regulations extend to Northern Ireland only.
2. In regulation 3 of the Capital Transfer Tax (Delivery of Accounts) (Northern Ireland) Regulations 1981( 2 ), for the definition of “an excepted estate” there shall be substituted the following definition—
“ “an excepted estate” means the estate of a person immediately before his death in a case where—
that person died on or after 6th April 2000, domiciled in the United Kingdom;
the value of that person’s estate is attributable wholly to property passing under his will or intestacy or under a nomination of an asset taking effect on death or by survivorship in a beneficial joint tenancy;
of that property not more than £50,000 represented value attributable to property which, immediately before that person’s death, was situated outside the United Kingdom;
that person died without having made any chargeable transfers during the period of seven years ending with his death other than specified transfers where the aggregate value transferred did not exceed £75,000; and
the aggregate of the gross value of that person’s estate and of the value transferred by any specified transfers made by that person did not exceed £210,000;
and in paragraphs (d) and (e) of this definition “specified transfers ” means chargeable transfers made during the period of seven years ending with that person’s death where the value transferred is attributable to cash or to quoted shares or securities; ” .
Nick Montagu
Ann Chant
Two of the Commissioners of Inland Revenue
3rd April 2000
1984 c. 51 . By virtue of section 100(1) and (2) of the Finance Act 1986 (c. 41) , on and after 25th July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984, and any reference in that Act to capital transfer tax is to have effect as a reference to inheritance tax, except where the reference relates to a liability to tax arising before 25th July 1986.