Inheritance Tax Act 1984 section 273

Transition from estate duty

Section 273 introduces Schedule 6, which contains the transitional provisions governing the shift from the old estate duty regime to the current inheritance tax system.

• Section 273 is a brief enabling provision that gives legal effect to Schedule 6 of the Inheritance Tax Act 1984.
• Schedule 6 sets out the detailed rules for handling the transition from the former estate duty regime to inheritance tax.
• Estate duty was the predecessor tax on wealth transfers on death, which was replaced first by capital transfer tax and then by inheritance tax.
• The transitional rules ensure that assets and arrangements that were subject to estate duty are dealt with appropriately under the inheritance tax framework.