Inheritance Tax Act 1984 Schedule 8 paragraphs 5–7

The Development Land Tax Act 1976

Schedule 8 paragraphs 5 to 7 formerly dealt with the interaction between inheritance tax and the Development Land Tax Act 1976, but have been repealed and are no longer in force.

• Paragraphs 5 to 7 originally addressed adjustments relating to development land tax and its effect on inheritance tax valuations.
• The Development Land Tax Act 1976 imposed a tax on the realised development value of land, which could affect the value of land for inheritance tax purposes.
• All three paragraphs were repealed by the Finance Act 1985, section 93 and Schedule 27 Part X, which abolished development land tax entirely.
• These paragraphs are now spent and have no practical application for current inheritance tax purposes.