Related Commentary  Related HMRC Manuals

153ZA(1)  This section applies where a qualifying payment has at any time been received by a person (“P”), or by the personal representatives of P.

153ZA(2)  The tax chargeable on the value transferred by the transfer made on Pʼs death (the “value transferred”) is to be reduced by an amount equal to–

(a)the relevant percentage of the amount of the qualifying payment, or

(b)if lower, the amount of tax that would, apart from this section, be chargeable on the value transferred.

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