Amendment of regulation 412

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 198415 so far as it relates to tax charged by virtue of section 147(4) of that Act16.

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—

RR+2.5,math

where RR is the reference rate referred to in paragraph (2).