Finance Act, 1922
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Option as to payment of estate duty in certain cases. |
44. Where any land or chattels settled by Act of Parliament or Royal Grant pass on the death of any person, any estate duty payable in respect thereof, or of any interest therein, under subsection (5) of section five of the Finance Act, 1894 , may, at the option of the person authorised or required to pay the same, and not-withstanding anything in the said section or in the Act of Parliament or Royal Grant settling the said land or chattels, be treated as a charge on and be raised and paid out of the corpus of such land or chattels, and the provisions of section nine of the Finance Act, 1894 , dealing with the charge of estate duty and the facilities for raising that duty shall apply. | |
The option given by this section shall be exerciseable in any case in which estate duty in respect of land or chattels, or any interest therein, to which subsection (5) of section five of the Finance Act, 1894 , applies, is unpaid at the date of the passing of this Act, irrespective of the date of the death which gave rise to the claim for that duty. |