{
  "url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-regulations-1998/note",
  "json_url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-regulations-1998/note.json",
  "legislation": "uksi/1998/1431",
  "legislation_title": "The Inheritance Tax (Delivery of Accounts) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/inheritance-tax-delivery-of-accounts-regulations-1998",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nRegulation 4 of the Capital Transfer Tax (Delivery of Accounts) Regulations 1981 (S.I. 1981/880) (“the principal Regulations”) provides that a person is not required to deliver an account of the property comprised in an excepted estate for inheritance tax purposes. (By virtue of section 100 of the Finance Act 1986 (c. 41) capital transfer tax is now known as inheritance tax.) An excepted estate is defined in regulation 3 of the principal Regulations.\nThese Regulations substitute a new definition of “an excepted estate” in respect of deaths on or after 6th April 1998.\nThe definition now substituted differs from the previous definition in three respects. First, the limit for the value of the property situated outside the United Kingdom which may form part of the deceased’s estate is raised from £30,000 to £50,000. Secondly, the limit on the aggregate value of chargeable transfers that are “specified transfers” (as defined) made during the period of seven years ending with the deceased’s death is raised from £50,000 to £75,000. Thirdly, the limit on the aggregate of the gross value of the deceased’s estate and of the value transferred by any specified transfers made by the deceased is raised from £180,000 to £200,000.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/1431/note",
    "retrieved_at": "2026-10-29T11:27:28.071587+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}