Finance Act, 2001

Amendment of section 18 (taxable value of a taxable gift or taxable inheritance) of Principal Act.

216.—(1) Section 18 of the Principal Act is amended in subsection (5)(f) by the substitution of “section 6(1)(d) or 12(1)(c)” for “section 6(1)(c) or section 12(1)(b)”.

(2) Subject to subsection (3), this section shall have effect in relation to gifts or inheritances taken on or after 1 December 1999.

(3) Notwithstanding subsection (2), this section shall not have effect in relation to gifts or inheritances taken under a disposition where the date of the disposition is before 1 December 1999.