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Legislation
Inheritance Tax Act 1984

Crossheading Miscellaneous

  • Section 80 Initial interest of settlor or spouse or civil partner.
  • Section 81 Property moving between settlements.
  • Section 81A Reversionary interests in relevant property
  • Section 81B Excluded property: property to which section 80 applies
  • Section 82 Excluded property : property to which section 81 applies (old cases)
  • Section 82A Excluded property: property to which section 81 applies (new cases)
  • Section 83 Property becoming settled on a death.
  • Section 84 Income applied for charitable purposes.
  • Section 85 Credit for annual charges under Finance Act 1975.
  1. Miscellaneous
  2. Credit for annual charges under Finance Act 1975.

Section 85 | Credit for annual charges under Finance Act 1975.

From legislation.gov.uk

Any tax charged under paragraph 12(2) of Schedule 5 to the Finance Act 1975 and not already allowed as a credit under paragraph 12(3) of that Schedule or under section 125 of the Finance Act 1982 or under this section shall be allowed as a credit against tax chargeable under this Chapter (apart from section 79) in respect of the settled property or part concerned.

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