OpenLegislation

Section 119 Occupation by company or partnership.

(1)

For the purposes of sections 117 and 118 above, occupation by a company which is controlled by the transferor shall be treated as occupation by the transferor.

(2)

For the purposes of sections 117 and 118 above, occupation of any property by a Scottish partnership shall, notwithstanding section 4(2) of the M1Partnership Act 1890, be treated as occupation of it by the partners.

Annotations

Marginal citations

M1

1890 c.39.

Notes on the whole Act

Textual amendments

F1

By Finance Act 1986 s. 100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.

Notes on Chapter II

Modifications

C1

See Part IIof this volume—Finance Act 1975 Sch. 8—for the transitional relief provisions under Finance Act 1981 s. 96and Sch. 14.

C2

Pt. 5 Ch. 2 modified (temp.) (retrospective to 30.10.2024) by Finance Act 2026 (c. 11), Sch. 12 para. 15