# Inheritance Tax Act 1984, Section 129: Credit for tax charged.


Where a disposal on which tax is chargeable under section 126 above is a chargeable transfer, the value transferred by it shall be calculated as if the value of the trees or underwood had been reduced by the tax chargeable under that section.

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Source: https://www.legislation.gov.uk/ukpga/1984/51/section/129 (the official version)
Page: https://openlegislation.uk/inheritance-tax-act-1984/section-129
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.