Section 186B — Inheritance Tax Act 1984: Suspended investments.

Suspended investments. 186B 1 This section applies to any qualifying investments comprised in a person’s estate immediately before his death in respect of which listing on a recognised stock exchange ... is suspended at the end of the period of twelve months immediately following the date of the death (“ the relevant period ”).

2 Where—

a any qualifying investments to which this section applies are, at the end of the relevant period, held by the appropriate person, and b the value on death of those investments exceeds their value at the end of that period, they shall be treated for the purposes of this Chapter as having been sold by the appropriate person immediately before the end of that period for a price equal to their value at that time.

3 Where any qualifying investments are included in the calculation under section 179(1) above by virtue of this section, paragraph (b) of that subsection shall have effect, so far as relating to those investments, with the omission of the words from “or” to the end.