Finance (No. 2) Act 2015
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Change 1
15 Inheritance tax: interest
(1) In section 107 of FA 1986 (changes in financial institutions: interest)— (a) in subsection (4), for the words from “section 234(4)” to “above)” substitute “ paragraph 7(8) of Schedule 53 to the Finance Act 2009 (late payment interest: inheritance tax payable by instalments) ”; (b) in subsection (5), for the words from “amend” to “section 234(3)(c)” substitute “ set out one or more descriptions of company for the purposes of paragraph 7(7) of Schedule 53 to the Finance Act 2009 ”. (2) In Schedule 53 to FA 2009 (special provision: late payment interest start date)— (a) in paragraph 7 (inheritance tax payable by instalments) for sub-paragraph (7) substitute— (7) A company falls within this sub-paragraph if— (a) its business is carried on in the United Kingdom and is— (i) wholly that of a market maker, or (ii) that of a discount house, or (b) it is of a description set out in regulations under section 107(5) of FA 1986. ; (b) in paragraph 9 (certain other amounts of inheritance tax), for “date of the testator's death” substitute “ end of the month in which the testator died ”. (3) The amendments made by this section come into force on such day or days as the Treasury may by regulations made by statutory instrument appoint. (4) Regulations under subsection (3) may— (a) appoint different days for different purposes; (b) make transitional or saving provision.
15 Inheritance tax: interest
(1) In section 107 of FA 1986 (changes in financial institutions: interest)— (a) in subsection (4), for the words from “section 234(4)” to “above)” substitute “ paragraph 7(8) of Schedule 53 to the Finance Act 2009 (late payment interest: inheritance tax payable by instalments) ”; (b) in subsection (5), for the words from “amend” to “section 234(3)(c)” substitute “ set out one or more descriptions of company for the purposes of paragraph 7(7) of Schedule 53 to the Finance Act 2009 ”. (2) In Schedule 53 to FA 2009 (special provision: late payment interest start date)— (a) in paragraph 7 (inheritance tax payable by instalments) for sub-paragraph (7) substitute— (7) A company falls within this sub-paragraph if— (a) its business is carried on in the United Kingdom and is— (i) wholly that of a market maker, or (ii) that of a discount house, or (b) it is of a description set out in regulations under section 107(5) of FA 1986. ; (b) in paragraph 9 (certain other amounts of inheritance tax), for “date of the testator's death” substitute “ end of the month in which the testator died ”. (3) The amendments made by this section come into force on such day or days as the Treasury may by regulations made by statutory instrument appoint. (4) Regulations under subsection (3) may— (a) appoint different days for different purposes; (b) make transitional or saving provision.
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