Statute
Section 170 — Inheritance Tax Act 1984: Leases for life, etc.
Text of the provision Official document
Leases for life, etc. 170 Where under section 43(3) above a lease of property is to be treated as a settlement, the value of the lessor’s interest in the property shall be taken to be such part of the value of the property as bears to it the same proportion as the value of the consideration, at the time the lease was granted, bore to what would then have been the value of a full consideration in money or money’s worth.
Official source: legislation.gov.uk
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