Regulation 2 Interpretation

In these Regulations—

• “chargeable transfer” has the meaning given by section 2(1) of IHTA 1984;

• “estate” shall be construed in accordance with sections 5, 55 and 151(4) of IHTA 1984;

• “IHTA 1984” means the Inheritance Tax Act 1984^f1;

• “potentially exempt transfer” has the meaning given by section 3A(1) and (1A) of IHTA 1984^f2;

• “property” shall be construed in accordance with section 272 of IHTA 1984;

• “relevant property” has the meaning given by section 58 of IHTA 1984;

• “relevant property entry charge” means the charge to inheritance tax which arises on a transfer of value made by an individual during that individual’s lifetime as a result of which property becomes relevant property;

• “transfer of value” has the meaning given by section 3(1) of IHTA 1984.