Inheritance Tax Act 1984 section 63

Minor interpretative provisions

Section 63 defines two key terms used throughout the chapter on interests in possession and settlements.

  • The term "payment" is not limited to cash — it includes any transfer of assets other than money.
  • The term "quarter" means a period of three months.
  • These definitions apply throughout the settlements chapter unless the context requires a different meaning.
  • These are interpretive aids and do not create any standalone tax charge or relief.

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