Section 241 Overpayments.
United Kingdom
If it is proved to the satisfaction of the Board that too much tax has been paid on the value transferred by a chargeable transfer or on so much of that value as is attributable to any property, the Board shall repay the excess unless the claim for repayment was made more than F14 years after the date on which the payment or last payment of the tax was made.
References in this section to tax include references to interest on tax.
Annotations
Textual amendments
- F1
Words in s. 241(1) substituted (1.4.2011) by Finance Act 2009 (c. 10), s. 99, Sch. 51 para. 13; S.I. 2010/867, art. 2(2)
Modifications
- C1
S. 241(1) applied (with modifications) (15.9.2016) by Finance Act 2016 (c. 24), s. 94(6)
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.