{
  "url": "https://openlegislation.uk/finance-act-1986/schedule-19/paragraph-23",
  "json_url": "https://openlegislation.uk/finance-act-1986/schedule-19/paragraph-23.json",
  "legislation": "ukpga/1986/41",
  "legislation_title": "Finance Act 1986",
  "legislation_url": "https://openlegislation.uk/finance-act-1986",
  "path": "schedule/19/paragraph/23",
  "kind": "paragraph",
  "number": "23",
  "heading": null,
  "text": "(1) In section 131 (relief in respect of additional tax payable on transfers within three years of death), in subsection (1) for the words from “(by virtue” to “transfer and” there shall be substituted “ because of the transferor’s death within seven years of the transfer, tax becomes chargeable in respect of the value transferred by a potentially exempt transfer or (by virtue of section 7(4) above) additional tax becomes chargeable in respect of the value transferred by any other chargeable transfer and (in either case) ”.\n(2) In subsection (2) of that section for the words “additional tax” in each place where they occur, there shall be substituted “ the tax or, as the case may be, additional tax ”.\n(3) After that subsection there shall be inserted the following subsection—\n“(2A) Where so much of the value transferred as is attributable to the value, or agricultural value, of the transferred property is reduced by any percentage (in this subsection referred to as “the appropriate percentage”), in accordance with Chapter I of thi Part of this Act, references in subsection (2) above to the market value of the transferred property at any time shall have effect—\n(a) in a case within chapter I, as references to that market value reduced by the appropriate percentage; and\n(b) in a case within Chapter II, as references to that market value less the appropriate percentage of the agricultural value of the transferred property at that time.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1986/41/schedule/19/paragraph/23",
    "retrieved_at": "2026-10-29T09:56:06.979637+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}