|
| |
|
(a) | if collected or received in Great Britain, be placed to the general |
| |
account of the Commissioners of Customs and Excise kept at |
| |
the Bank of England under section 17 of the Customs and Excise |
| |
| |
(b) | if collected or received in Northern Ireland, be paid into the |
| 5 |
Consolidated Fund of the United Kingdom in such manner as |
| |
the Treasury may direct.”. |
| |
| |
287 | Delivery of accounts etc |
| |
(1) | Section 256 of the Inheritance Tax Act 1984 (c. 51) (regulations about |
| 10 |
information to be furnished to the Board) is amended as follows. |
| |
| |
(a) | in paragraph (a), after “specified in” insert “or determined under”; |
| |
(b) | after paragraph (a) insert— |
| |
“(aa) | requiring persons who by virtue of regulations under |
| 15 |
paragraph (a) above are not required to deliver accounts |
| |
under section 216 above to produce to the Board, in such |
| |
manner as may be specified in or determined under the |
| |
regulations, such information or documents as may be |
| |
so specified or determined”; |
| 20 |
(c) | in paragraph (b), after “so specified” insert “or determined”; |
| |
(d) | paragraph (c) shall cease to have effect. |
| |
(3) | After subsection (1) insert— |
| |
“(1A) | Regulations under subsection (1)(aa) may in particular— |
| |
(a) | provide that information or documents must be produced to the |
| 25 |
Board by producing it or them to— |
| |
(i) | a probate registry in England and Wales; |
| |
(ii) | the sheriff in Scotland; |
| |
(iii) | the Probate and Matrimonial Office in Northern Ireland; |
| |
(b) | provide that information or documents produced as specified |
| 30 |
in paragraph (a) is or are to be treated for any or all purposes of |
| |
this Act as produced to the Board; |
| |
(c) | provide for the further transmission to the Board of information |
| |
or documents produced as specified in paragraph (a).” |
| |
(4) | Subsection (2) shall cease to have effect. |
| 35 |
(5) | In subsection (3), at the end insert “and may make different provision for |
| |
| |
(6) | After subsection (3) insert— |
| |
“(3A) | Regulations under this section may only be made— |
| |
(a) | in relation to England and Wales or Northern Ireland, after |
| 40 |
consulting the Lord Chancellor; |
| |
(b) | in relation to Scotland, after consulting the Scottish Ministers.” |
| |
|
| |
|
| |
|
| |
(1) | In section 109 of the Supreme Court Act 1981 (c. 54) (refusal of grant of probate |
| |
where inheritance tax unpaid)— |
| |
(a) | for subsection (1) substitute— |
| |
“(1) | No grant shall be made, and no grant made outside the United |
| 5 |
Kingdom shall be resealed, except— |
| |
(a) | on the production of information or documents under |
| |
regulations under section 256(1)(aa) of the Inheritance |
| |
Tax Act 1984 (excepted estates); or |
| |
(b) | on the production of an account prepared in pursuance |
| 10 |
of that Act showing by means of such receipt or |
| |
certification as may be prescribed by the Commissioners |
| |
| |
(i) | that the inheritance tax payable on the delivery |
| |
of the account has been paid; or |
| 15 |
(ii) | that no such tax is so payable.”; |
| |
(b) | in subsection (2), for “this section” substitute “subsection (1)(b)”; |
| |
(c) | after subsection (2) insert— |
| |
“(2A) | In this section and the following section, “the Commissioners” |
| |
means the Commissioners of Inland Revenue”; |
| 20 |
(d) | subsection (3) shall cease to have effect. |
| |
(2) | In section 42 of the Probate and Legacy Duties Act 1808 (c. 149) (grant of |
| |
| |
(a) | the existing text shall become subsection (1) of that section; |
| |
(b) | at the beginning of that subsection, for “And” substitute “Subject to |
| 25 |
subsection (2) below,”; and |
| |
(c) | after that subsection insert— |
| |
“(2) | In a case to which regulations under section 256(1)(aa) of the |
| |
Inheritance Tax Act 1984 (c. 51) apply (excepted estates), it shall not be |
| |
lawful to grant confirmation such as is mentioned in subsection (1) |
| 30 |
above except on the production of information or documents in |
| |
accordance with those regulations.” |
| |
(3) | In Article 20 of the Administration of Estates (Northern Ireland) Order 1979 |
| |
(S.I.1979/1575 (N.I.14)) (inheritance tax accounts)— |
| |
(a) | for paragraph (1) substitute— |
| 35 |
“(1) | The High Court shall not make any grant, or reseal any grant |
| |
made outside the United Kingdom, except— |
| |
(a) | on the production of information or documents under |
| |
regulations under section 256(1)(aa) of the Inheritance |
| |
Tax Act 1984 (excepted estates); or |
| 40 |
(b) | on the production of an account prepared in pursuance |
| |
of that Act showing by means of such receipt or |
| |
certification as may be prescribed by the Commissioners |
| |
of Inland Revenue either— |
| |
(i) | that the inheritance tax payable on the delivery |
| 45 |
of the account has been paid; or |
| |
(ii) | that no such tax is so payable.”; |
| |
|
| |
|
| |
|
(b) | in paragraph (2) of that Article, for “this Article” substitute “paragraph |
| |
| |
(4) | Subsection (1) shall come into force on such day as the Treasury may after |
| |
consulting the Lord Chancellor by order made by statutory instrument |
| |
| 5 |
(5) | Subsection (2) shall come into force on such day as the Treasury may after |
| |
consulting the Scottish Ministers by order made by statutory instrument |
| |
| |
(6) | Subsection (3) shall come into force on such day as the Treasury may after |
| |
consulting the Lord Chancellor by order made by statutory instrument |
| 10 |
| |
289 | Amendments to penalty regime |
| |
(1) | The Inheritance Tax Act 1984 is amended as specified in subsections (2) to (4). |
| |
(2) | In section 245 (failure to deliver accounts)— |
| |
(a) | in subsections (2)(a) and (3), for “not exceeding” substitute “of”; |
| 15 |
(b) | after subsection (4) insert— |
| |
“(4A) | Without prejudice to any penalties under subsections (2) and (3) |
| |
| |
(a) | the failure by the taxpayer to deliver the account |
| |
continues after the anniversary of the end of the period |
| 20 |
given by section 216(6) or (7) (whichever is applicable), |
| |
| |
(b) | there would have been a liability to tax shown in the |
| |
| |
| the taxpayer shall be liable to a penalty of an amount not |
| 25 |
| |
(3) | In section 245A (failure to provide information etc)— |
| |
(a) | after subsection (1A) insert— |
| |
“(1B) | Without prejudice to any penalties under subsection (1A) |
| |
above, if a person continues to fail to comply with the |
| 30 |
requirements of section 218A after the anniversary of the end of |
| |
the period of six months referred to in section 218A(1), he shall |
| |
be liable to a penalty of an amount not exceeding £3,000.”; |
| |
| |
(i) | after “failing to make a return” insert “, to comply with the |
| 35 |
requirements of section 218A”; |
| |
(ii) | after “fails to make the return” insert “, to comply with the |
| |
requirements of section 218A”. |
| |
(4) | In section 247 (provision of incorrect information)— |
| |
(a) | in subsection (1), for the words from “, in the case of fraud” to the end |
| 40 |
substitute “to a penalty not exceeding the difference mentioned in |
| |
| |
(b) | in subsection (3), for the words from “, in the case of fraud” to the end |
| |
substitute “to a penalty not exceeding £3,000”. |
| |
|
| |
|
| |
|
(5) | Subsection (2)(a) above has effect in relation to a failure by any person to |
| |
deliver an account under section 216 or 217 of the Inheritance Tax Act 1984 |
| |
(c. 51) where the period under section 216(6) or (7) or 217 of that Act |
| |
(whichever is applicable) within which the person is required to deliver the |
| |
account expires after six months from the day on which this Act is passed. |
| 5 |
(6) | Subsection (2)(b) above has effect— |
| |
(a) | in relation to a failure by any person to deliver an account under section |
| |
216 of the Inheritance Tax Act 1984 where the period under section |
| |
216(6) or (7) of that Act (whichever is applicable) within which the |
| |
person is required to deliver the account expires after the day on which |
| 10 |
| |
(b) | in relation to such a failure to deliver such an account where that period |
| |
expires on or before the day on which this Act is passed, as if, in the |
| |
subsection (4A) inserted in section 245 of that Act by subsection (2)(b) |
| |
above, for the words “anniversary of the end of the period given by |
| 15 |
section 216(6) or (7) (whichever is applicable)” there were substituted |
| |
“end of the period of twelve months beginning with the day on which |
| |
the Finance Act 2004 is passed”. |
| |
(7) | Subsection (3)(a) above has effect— |
| |
(a) | in relation to a failure to comply with the requirements of section 218A |
| 20 |
of the Inheritance Tax Act 1984 (c. 51) where the period of six months |
| |
referred to in subsection (1) of that section expires after the day on |
| |
which this Act is passed; and |
| |
(b) | in relation to such a failure to comply with those requirements where |
| |
that period expires on or before the day on which this Act is passed, as |
| 25 |
if, in the subsection(1B) inserted in section 245A of that Act by |
| |
subsection (3)(a) above, for the words “anniversary of the end of the |
| |
period of six months referred to in section 218A(1)” there were |
| |
substituted “end of the period of twelve months beginning with the day |
| |
on which the Finance Act 2004 is passed”. |
| 30 |
(8) | Subsection (3)(b) above has effect in relation to a failure to comply with the |
| |
requirements of section 218A of the Inheritance Tax Act 1984 where the period |
| |
of six months referred to in subsection (1) of that section expires after the day |
| |
on which this Act is passed. |
| |
(9) | Subsection (4) above has effect in relation to incorrect accounts, information or |
| 35 |
documents delivered, furnished or produced after the day on which this Act is |
| |
| |
Stamp duty land tax and stamp duty |
| |
290 | Miscellaneous amendments |
| |
Schedule 37 to this Act, which makes amendments to Part 4 (stamp duty land |
| 40 |
tax) and Part 5 (stamp duty) of the Finance Act 2003, has effect. |
| |
|
| |
|