The persons liable for inheritance tax on the value transferred by a chargeable transfer made on the death of any person1 are:
(1) so far as the tax is attributable to the value of any property2 which either was not immediately before the death comprised in a settlement3, or was so comprised and consists of land4 in the United Kingdom which devolves upon or vests in the deceased's personal representatives5, the deceased's personal representatives6;
(2) so far as the tax is attributable to the value of property which, immediately before the death, was comprised in a settlement, the trustees
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