# The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2003, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations (“the amending Regulations”) amend the Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2002 (S.I. 2002/1733) (“the 2002 Regulations”).
Regulation 4 of the 2002 Regulations relieves a person from complying with the requirement in section 216 of the Inheritance Tax Act 1984 (c. 51) to provide the Commissioners of Inland Revenue with an account of the property of a deceased person, if that property constitutes an excepted estate, and unless the Commissioners expressly require an account to be given.
Regulation 3 of the 2002 Regulations defines two categories of excepted estate. The first, with which the amending Regulations are concerned, is defined in regulation 3(2). It includes a requirement, at sub-paragraph (e), that the aggregate of the gross value of the person’s estate and the value transferred by any specified transfers (defined in regulation 3(4)) made by that person did not exceed £220,000.
The amending Regulations increase that sum to £240,000.

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Source: https://www.legislation.gov.uk/uksi/2003/1658/note (the official version)
Page: https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-estates-amendment-regulations-2003/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.