Regulation 12 Amendment of regulation 4

(1)

Amend regulation 4 as follows.

(2)

In paragraph (1)—

(a)

in sub-paragraph (f) omit “236(3) and (4)”,

(b)

after sub-paragraph (f) insert—

“(g)
section 236(4) of the Inheritance Tax Act 1984^f1 so far as it relates to tax charged by virtue of section 147(4) of that Act^f2.”.

(3)

In paragraph (2) omit the words after “paragraph (3)” to the end.

(4)

For paragraph (3) substitute—

“(3)
The formula specified in this paragraph is—
$R R + 2.5,$
where RR is the reference rate referred to in paragraph (2).”.

Annotations

f1: 1984 c. 51, section 236(4) was amended by section 179(3) of the Finance Act 1989 (c. 26).
f2: Section 147(4) was amended by S.I. 2005/3229.