Section 321

For the purposes of this section the qualifying condition is that the National Crime Agency has reasonable grounds to suspect that— there has been a transfer of value within the meaning of the Inheritance Tax Act 1984 (c. 51), and the value transferred by the transfer of value is attributable (in whole or part) to criminal property. If the qualifying condition is satisfied the National Crime Agency may serve on the Board a notice which— specifies the transfer of value, and states that the National Crime Agency intends to carry out the Revenue inheritance tax functions in relation to the transfer. Service of a notice under subsection (2) vests in the National Crime Agency the Revenue inheritance tax functions in relation to the transfer. the National Crime Agency— may at any time serve on the Board a notice of withdrawal of the notice under subsection (2); must serve such a notice of withdrawal on the Board if the qualifying condition ceases to be satisfied. Service of a notice under subsection (4) divests the National Crime Agency of the Revenue inheritance tax functions in relation to the transfer. The vesting of a function in the National Crime Agency under this section does not divest the Board or an officer of the Board of the function. It is immaterial whether a transfer of value is suspected to have occurred before or after the passing of this Act.

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Source: legislation.gov.uk · retrieved 2026-09-04