nha80/s13.- National Heritage Act 1980 Section 13 Acceptance of property in satisfaction of interest on tax.

PART II

PROPERTY ACCEPTED IN SATISFACTION OF TAX

13. - (1) ⁵

1958 c.56.

1958 c.14.
(N.I.)

(2) References to estate duty in -

(a) the provisions mentioned in section 8(3) above; and
(b) section 32 of the Finance Act 1958 and section 5 of the Finance Act (Northern Ireland) 1958,

1896 C.28.

shall include references to interest payable under section 18 of the Finance Act 1896.

(3) Section 8 above shall have effect where by virtue of this section [or section 230(1) or 231(2) of the Inheritance Tax Act 1984 ⁶ ] property is accepted in satisfaction of interest as it has effect where property is accepted in satisfaction of [inheritance tax ⁷ ] or estate duty and references in this Part of this Act to property accepted in satisfaction of tax shall be construed accordingly.

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5 Words omitted repealed by CTTA, s.277 and Sch.9 now incorporated within IHTA 1984 s.231(2).

6 Inserted by CTTA Sch.8 para. 15, with effect from 1 January 1985. By 1986 s.100(1), on and after 25 July 1986 the Capital Transfer Tax Act 1984 may be cited as the Inheritance Tax Act 1984.

7 See 1986 s.100(1) and (2) - for any liability to tax arising on and after 25 July 1986 any reference in the legislation to capital transfer tax has effect as a reference to inheritance tax.