# The Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2014

S.I. 2014/488 · made 4 March 2014

These Regulations amend the Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2004 (S.I. 2004/2543) (“the principal Regulations”).

Made under: Inheritance Tax Act 1984 (Section 256)

PDFs: Printed copy https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-estates-amendment-regulations-2014/pdf/uksi_20140488_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-estates-amendment-regulations-2014/pdf/uksiem_20140488_en.pdf

## Introductory text

Inheritance Tax
Made 4th March 2014
Laid before the House of Commons 6th March 2014
Coming into force 1st April 2014
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by section 256(1) and (3) of the Inheritance Tax Act 1984 and now vested in them.
In accordance with section 256(3A) of that Act, they have consulted the Lord Chancellor, the Scottish Ministers and the Lord Chief Justice of Northern Ireland.

## 1 Citation, commencement, effect and interpretation

(1) These Regulations may be cited as the Inheritance Tax (Delivery of Accounts) (Excepted Estates) (Amendment) Regulations 2014.
(2) These Regulations shall come into force on 1st April 2014 and have effect in relation to deaths occurring on or after that date.
(3) In these Regulations “the principal Regulations” means the Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2004.

## 2 Amendment of the principal Regulations

(1) Regulation 4 of the principal Regulations (excepted estates) is amended as follows.
(2) In paragraph (3)(f) between “C” and “is the total liabilities of the estate” insert “, subject to paragraph (7B),”.
(3) After paragraph (7A) insert—
“(7B) For the purpose of paragraph (3)(f) “the total liabilities of the estate” do not include liabilities of the estate to the extent that they—
(a) are not discharged as mentioned in section 175A(1)(a) of the 1984 Act (discharge of liabilities after death);
(b) are prevented from being taken into account as mentioned in section 175A(1)(b) of the 1984 Act (discharge of liabilities after death); or
(c) are attributable as mentioned in section 162A(1)(a) or (b), or section 162A(5), of the 1984 Act (liabilities attributable to financing excluded property).”

## Signature

Ruth Owen
Simon Bowles
Two of the Commissioners for Her Majesty’s Revenue and Customs
4th March 2014

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend the Inheritance Tax (Delivery of Accounts) (Excepted Estates) Regulations 2004 (S.I. 2004/2543) (“the principal Regulations”).
Regulation 2 amends regulation 4 of the principal Regulations in connection with amendments made to the Inheritance Tax 1984 (“the 1984 Act”) by section 176 of and Schedule 36 to the Finance Act 2013. Those amendments restrict the liabilities that may be taken into account for the purposes of determining the value of a person’s estate for the purposes of the 1984 Act.
Paragraph (2) of regulation 2 amends paragraph (3)(f) of regulation 4 of the principal Regulations by providing that the expression “total liabilities of the estate” is subject to new paragraph (7B).
Paragraph (3) of regulation 2 inserts new paragraph (7B) into regulation 4 of the principal Regulations.
Sub-paragraphs (a) and (b) of the new paragraph (7B) provide that the total liabilities of the estate for the purpose of paragraph (3)(f) of regulation 4 of the principal Regulations do not include liabilities of the estate to the extent that they are not discharged as mentioned in section 175A(1)(a) of the 1984 Act, or are prevented from being taken into account as mentioned in section 175A(1)(b) of the 1984 Act.
Sub-paragraph (c) of the new paragraph (7B) provides that the total liabilities of the estate for the purpose of paragraph (3)(f) of regulation 4 of the principal Regulations do not include liabilities that are attributable to financing excluded property as mentioned in section 162A(1)(a) or (b), or section 162A(5), of the 1984 Act.
A Tax Information and Impact Note has not been prepared for this Instrument as it contains no substantive changes to tax policy.

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Source: https://www.legislation.gov.uk/uksi/2014/488 (the official version)
Page: https://openlegislation.uk/inheritance-tax-delivery-of-accounts-excepted-estates-amendment-regulations-2014
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.