Inheritance Tax Act 1984 Schedule 8 paragraphs 17–19

Amendments to the Finance Act 1980

Paragraphs 17 to 19 of Schedule 8 deal with consequential amendments to sections 52, 53 and 98 of the Finance Act 1980, updating cross-references so that they point to the corresponding provisions in the Capital Transfer Tax Act 1984 (now the Inheritance Tax Act 1984) rather than to the earlier Finance Act 1982.

• References in section 52 of the Finance Act 1980 to directions under section 93 of the Finance Act 1982 are replaced with references to paragraph 1 of Schedule 4 to the Capital Transfer Tax Act 1984, and related sub-section references are updated accordingly.
• References in section 53 of the Finance Act 1980 are similarly updated, substituting references to sub-paragraph (1) of paragraph 3 of Schedule 4 and paragraph 1 of Schedule 4 for the former Finance Act 1982 references.
• Section 98 of the Finance Act 1980 is amended so that its reference to circumstances in which settled property ceases to be comprised in a settlement without a charge, or with a reduced charge, now points to paragraphs 9 and 17 of Schedule 4 to the Capital Transfer Tax Act 1984.
• These are purely consequential amendments that change statutory cross-references only; they do not alter the underlying rules about when capital transfer tax is charged or reduced on settled property.