Regulation 6 Description for the purposes of sections 105(4A) and 234(3)(c)(ii) of the Inheritance Tax Act 1984
For the purposes of section 105(4A) of the Inheritance Tax Act 1984 the description of a business is a business in an EEA State F1... which—
(a)
holds itself out at all normal times, in compliance with the rules of a regulated market F2..., as willing to buy and sell securities, stocks and shares at a price specified by it, and
(b)
is recognised as doing so by that regulated market.
Annotations
Textual amendments
- F1
Words in reg. 6 omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 33(2)(a) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
- F2
Words in reg. 6(a) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 33(2)(b) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)