HC Deb 06 March 1975 vol 887 c1840

Amendments made: No. 69, in page 22, line 12, at end insert— '(3A) Where the tax exceeds what it would have been had the transferor died more than three years after the transfer, a person shall not be liable for the excess as a person in whom property is vested otherwise than beneficially, except to the extent of so much of the property as is vested in him at the time of the death; and a person shall not be liable for the excess as a trustee in relation to any property, except to the extent of—

  1. (a) so much of the property as is vested in him at the time of the death; and
  2. (b) so much of the property as, after the death, he has actually received or disposed of or as, after the death, he has become liable to account for to the persons beneficially entitled thereto'.

No. 70, in page 22, line 27, at end insert— '(6) Subsection (5) above shall not apply in relation to such an excess as is mentioned in subsection (3A) above',—[Dr. Gilbert.]

Forward to