Explanatory note

Regulation 42 of the National Savings Stock Register Regulations 1976 makes provision in respect of inheritance tax (and its predecessor taxes) chargeable on the death of a holder of stock. Before any payment in respect of, or transfer of, any of the stock of such a holder may be made regulation 42 requires the production of a statement from the Commissioners of the Inland Revenue that such tax is not payable in respect of the stock or has been paid where the aggregate value of the deceased’s holding of stock and certain other assets of the deceased exceeds £25,000. These Regulations increase that amount to £50,000.