Inheritance Tax Sample Clauses
The Inheritance Tax clause outlines the responsibilities and procedures related to the payment of taxes that arise when assets are transferred upon someone's death. Typically, this clause specifies whether the estate or the beneficiaries are responsible for paying any inheritance or estate taxes, and may detail how such taxes are to be calculated and settled. Its core practical function is to clarify financial obligations regarding tax liabilities, thereby preventing disputes among heirs and ensuring compliance with relevant tax laws.
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Inheritance Tax. (i) The Company has not:
(1) made any transfer of value within Sections 94 and 202 of IHTA 1984; or
(2) received any value such that liability might arise under Section 199 of IHTA 1984; or
(3) been a party to associated operations in relation to a transfer of value as defined by Section 268 of IHTA 1984.
(ii) There is no unsatisfied liability to inheritance tax attached to, or attributable to, the Shares or any asset of the Company. None of them are subject to any HM Revenue & Customs charge as mentioned in Section 237 and 238 of IHTA 1984.
(iii) No asset owned by the Company, nor the Shares, are liable to be subject to any sale, mortgage or charge by virtue of Section 212(1) of IHTA 1984.
Inheritance Tax. No asset owned by the Company, nor the Sale Shares, is subject to any Inland Revenue charge as mentioned in sections 237 and 238 of the Inheritance Tax A▇▇ ▇▇▇▇ or is liable to be subject to any sale, mortgage or charge by virtue of section 212(1) of Inheritance Tax A▇▇ ▇▇▇▇.
Inheritance Tax. Neither the assets nor the shares of the Company are or may be subject to any charge by virtue of section 237 of the Inheritance Tax Act 1984 and no person has or may have the ' power under section 212 of the Inheritance Tax Act 1984 to raise any capital transfer tax or inheritance tax by ▇▇▇▇ ▇▇ mortgage of, or a terminable charge on, any of the Company's assets or shares.
Inheritance Tax. 23.5.1 No transfers of value and associated operations The Company has made no transfers of value within sections 94 and 202, ITA nor has the Company received a transfer of value such that liability might arise under section 199, ITA nor has the Company been party to associated operations in relation to a transfer of value as defined by section 268, ITA.
23.5.2 Inland Revenue charge There is no unsatisfied liability to inheritance tax attached to or attributable to the Shares or any asset of the Company and none of them are subject to an Inland Revenue charge as mentioned in section 237 and 238, ITA.
23.5.3 Power of sale, mortgage or charge No asset owned by the Company nor the Shares are liable to be subject to any sale, mortgage or charge by virtue of section 212, ITA.
Inheritance Tax. 13.1 The Company is not liable, to be assessed to inheritance tax or any other Taxation as donor or donee of any gift, or transferor or transferee of value and as far as the Sellers are aware there are no other circumstances by reason of which any liability in respect of inheritance tax has arisen or could arise for the Company or any charge in relation to unpaid inheritance tax has arisen or could arise in respect of the assets of the Company or the Shares.
Inheritance Tax. 14.1 Neither the Company nor any Subsidiary has:
(a) made any transfer of value within sections 94 and 202 of IHTA 1984; or
(b) received any value such that liability might arise under section 199 of IHTA 1984; or
(c) been a party to associated operations in relation to a transfer of value as defined by section 268 of IHTA 1984.
14.2 There is no unsatisfied liability to inheritance tax attributable to a transfer of value comprising the Sale Shares or any asset of the Company or any Subsidiary. None of them are subject to any Inland Revenue charge as mentioned in section 237 and 238 of IHTA 1984.
14.3 No asset owned by the Company or any Subsidiary, nor the Sale Shares, are liable to be subject to any sale, mortgage or charge by virtue of section 212(1) of IHTA 1984.
Inheritance Tax. (i) Neither the Company nor any Subsidiary has:
(A) made any transfer of value within sections 94 and 202 of IHTA 1984; or
(B) received any value such that liability might arise under section 199 of IHTA 1984; or
(C) been a party to associated operations in relation to a transfer of value as defined by section 268 of IHTA 1984.
(ii) There is no unsatisfied liability to inheritance tax attached to, or attributable to, the Shares or any asset of the Company or any Subsidiary. None of them are subject to any HM Revenue & Customs charge as mentioned in section 237 and 238 of IHTA 1984.
(iii) No asset owned by the Company or any Subsidiary, nor the Shares, are liable to be subject to any sale, mortgage or charge by virtue of section 212(l) of IHTA 1984.
Inheritance Tax. No asset owned by any Acquired Group Company nor the Shares is subject to any Inland Revenue charge as mentioned in sections 237 and 238 of IHTA 1984 or (so far as the Vendor is aware) is liable to be subject to any sale, mortgage or charge by virtue of section 212(1) of IHTA 1984.
Inheritance Tax. No shares in or assets of the Company are or may be subject to any charge by virtue of section 237 IHTA, no person has or may have power under section 212 IHTA to raise inheritance tax by sale or mortgage of, or a terminable charge on, any of the Company’s assets or shares and the Company has not made any transfer of value to which part IV IHTA might apply.
Inheritance Tax. 8.16.1 No shares in or assets of the Company were acquired by it or (as the case may be) the Vendors in circumstances such that they continued to be subject to any Inland Revenue charge to which they were subject immediately prior to such acquisition or such that, if they had been subject to an Inland Revenue charge immediately prior to such acquisition, they would have continued to be subject to it.
8.16.2 No shares in or assets of the Company are subject to any such power of sale, charge or mortgage as is mentioned in section 212 IHTA and there are no circumstances which might lead to such a power arising.