# Finance Act 2003, Paragraph 16A


Where—
(a) there is a land transaction that is—
(i) a transfer of value within section 3 of the Inheritance Tax Act 1984 (transfers of value), or
(ii) a disposition, effected by will or under the law of intestacy, of a chargeable interest comprised in the estate of a person immediately before his death,
and
(b) the purchaser is or becomes liable to pay, agrees to pay or does in fact pay any inheritance tax due in respect of the transfer or disposition,
his liability, agreement or payment does not count as chargeable consideration for the transaction.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/4/paragraph/16A (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-4/paragraph-16A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.