Paragraph 16

(1)

For the purposes of relief under this Part of this Schedule—

(a)

paragraphs 3, 4 and 5(2) above shall apply as if for references to the transferor and the transfer there were substituted references to the deceased and his death ;

(b)

paragraph 3(5) above shall apply with the further modification specified in sub-paragraph (2) below ;

(c)

paragraph 5(2) above shall apply for the purposes of paragraph 15 above ; and

(d)

paragraph 9(5) above shall apply as if for the reference to tax there were substituted a reference to estate duty.

(2)

For the purposes of relief under this Part of this Schedule paragraph 3(5) above shall apply as if it required the principal value of the agricultural property to be computed in accordance with paragraph 13(2) above.

Notes on Schedule 8

Modifications

C1: Sch. 8 applied by Capital Gains Tax Act 1979 (c. 14 SIF 63:2), s. 126, Sch. 4 paras. 1(1)(a), 3(1)(a)

Notes on Part II

Modifications

C1: The text of ss. 50, 52(3), 54(1), 57(1)(a)(b), (2)(in part), 58, Sch. 4 para. 38(2), Sch. 8 Pt. II (ss. 12–16), Sch. 11, Sch. 13 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.