Section 8FC Downsizing addition: effect: section 8E caseF1
(1)
Subsection (2) applies if—
(a)
as a result of section 8FA, there is entitlement to a downsizing addition in calculating the person's residence nil-rate amount, and
(b)
the person's residence nil-rate amount is given by section 8E.
(2)
Section 8E has effect as if, in subsections (2) to (5) of that section, each reference to NV/100 were a reference to the total of—
(a)
NV/100, and
(b)
the downsizing addition.
Annotations
Textual amendments
- F1
Ss. 8FA-8FE inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 15 para. 5
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.