Finance Act, 1994
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Amendment of section 111 (application of Principal Act) of Finance Act, 1993. |
138.—(1) Section 111 of the Finance Act, 1993 , is hereby amended— | |
(a) by the deletion of “and” in subparagraph (ii) of paragraph (g) and by the insertion after that subparagraph of the following subparagraph: | ||
“(iia) in so far as the inheritance consists of agricultural property, the reference to market value in subsection (1) of the said section 18 were a reference to agricultural value, and”, | ||
(b) by the insertion of the following proviso to subparagraph (iii) of paragraph (g) of that section— | ||
“Provided that nothing in this subparagraph shall have effect so as to reduce the tax which would but for this subparagraph be borne by property which at the date ofdeath of the deceased represented the share in the estate of the deceased of a person who was not on that date a dependent child or a dependent relative of the deceased;”. | ||
(2) Paragraph (a) of subsection (1) shall have effect in relation to persons dying after the 17th day of June, 1993. |