S.162A IHTA 1984 was inserted by Paragraph 2 Schedule 36 FA 2013.
Paragraph 5(1) says that, subject to sub-paragraph (2) [which refers to S.162B] the
amendments made by that Schedule ‘have effect in relation to transfers of
value made, or treated as made, on or after [Royal Assent].’
S.162A doesn’t extend the meaning of a transfer of value or chargeable
transfer to occasions on which tax is chargeable under Chapter 3 of Part 3. In
this respect it differs from S.162B(9), which clearly states that
references to transfers of value or chargeable transfers are to include such
occasions, but only for the purposes of S.162B(1) to (4) and (7).
So, in considering the application of S,162A, this seems to leave it
referring only to real transfers of value and chargeable transfers.
Do forum members agree that this means that S.162A does not affect exits
from, or ten-year anniversaries of relevant property trusts.