Introductory text
Inheritance Tax
Made 19th November 2012
Laid before the House of Commons 21st November 2012
Coming into force 31st December 2012
The Commissioners for Her Majesty's Revenue and Customs make the following Regulations in exercise of powers conferred by sections 106(5) and 107(5) of the Finance Act 1986 M1 and now exercisable by them M2.
Annotations
Marginal citations
- M1
- M2
Sections 106 and 107 of the Finance Act 1986 (“the 1986 Act”) contain powers for the Board to make regulations. Section 114 of the 1986 Act provides that Part 5 shall be construed as one with the Inheritance Tax Act 1984 (c. 51). Section 272 of that Act provides that “the Board” means the Commissioners of Inland Revenue. The functions of the Commissioners of Inland Revenue were transferred to the Commissioners for Her Majesty's Revenue and Customs by section 5(1) of the Commissioners for Revenue and Customs Act 2005 (c.11). Section 50(1) of that Act provides that, in so far as it is appropriate in consequence of section 5, a reference, however expressed, to the Commissioners of Inland Revenue is to be taken as a reference to the Commissioners for Her Majesty's Revenue and Customs.