Statutory Instruments
2007 No. 3000
Income Tax
Inheritance tax
The Income Tax (Benefits Received by Former Owner of Property) (Election for Inheritance Tax Treatment) Regulations 2007
Made
19th October 2007
Laid before House of Commons
22nd October 2007
Coming into force
14th November 2007
The Treasury, in exercise of the power conferred by paragraph 23(2) of Schedule 15 to the Finance Act 2004( 1 ), make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Income Tax (Benefits Received by Former Owner of Property) (Election for Inheritance Tax Treatment) Regulations 2007 and shall come into force on 14th November 2007.
Manner in which election to be made
2. An election under paragraph 21 or 22 of Schedule 15 to the Finance Act 2004(power to elect for inheritance tax treatment of pre-owned assets) is to be made in writing on the form designated IHT 500 in the Schedule to these Regulations.
Dave Watts
Steve McCabe
Two of the Lords Commissioners of Her Majesty’s Treasury
19th October 2007
Regulation 2
