Treatment of Bradford & Bingley shares for the purposes of Inheritance Tax relief

Where an individual died in the period 29 September 2007 to 28 September 2008 (inclusive) owning shares in Bradford & Bingley, and the shares were subsequently taken into public ownership before they were either sold by the personal representatives or transferred to the person(s) entitled under the deceased's will or intestacy, then for the purposes only of section 186A Inheritance Tax Act 1984 the shares will be treated as if they had been cancelled as at 29 September 2008. And provided the other conditions of s186A are met, a claim to relief under those provisions may be made by the appropriate person.

More information about this is given in a question and answer section (PDF 41K).