Where a disposal on which tax is chargeable under section 126 above is a chargeable transfer, the value transferred by it shall be calculated as if the value of the trees or underwood had been reduced by the tax chargeable under that section.
Section 129: Credit for tax charged.
Inheritance Tax Act 1984 · 1984 c. 51View on legislation.gov.uk
Part V: MISCELLANEOUS RELIEFS — CHAPTER III: WOODLANDS
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