Any tax charged under paragraph 12(2) of Schedule 5 to the Finance Act 1975 and not already allowed as a credit under paragraph 12(3) of that Schedule or under section 125 of the Finance Act 1982 or under this section shall be allowed as a credit against tax chargeable under this Chapter (apart from section 79) in respect of the settled property or part concerned.
Section 85: Credit for annual charges under Finance Act 1975.
Inheritance Tax Act 1984 · 1984 c. 51View on legislation.gov.uk
Part III: SETTLED PROPERTY — CHAPTER III: SETTLEMENTS WITHOUT INTERESTS IN POSSESSION , AND CERTAIN SETTLEMENTS IN WHICH INTERESTS IN POSSESSION SUBSIST
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