The proposed legislation extends business property relief from Inheritance Tax to businesses carrying on the business of a market maker, within the definition given by the Markets in Financial Instruments Directive (2004/39/EC), in a regulated market of a European Economic Area member state.
It makes similar provision in relation to interest on instalments in relation to companies. The instrument inserts new provisions into the Inheritance Act 1984 and includes associated regulations for the purposes of those new provisions.
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