Where in determining the value of a person's estate immediately before his death a liability to make payments or transfer assets under such a disposition as is mentioned in section 262 below is taken into account, the liability shall be computed as if the amount or value of the payments or assets were reduced by the chargeable portion (as defined in that section).
Section 175: Liability to make future payments, etc.
Inheritance Tax Act 1984 · 1984 c. 51View on legislation.gov.uk
Part VI: VALUATION — CHAPTER II: ESTATE ON DEATH
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