Commentary

69 Inheritance tax: potentially exempt transfers

POWERS OF APPOINTMENT vol 33
| Commentary

69 Inheritance tax: potentially exempt transfers

| Commentary

69 Inheritance tax: potentially exempt transfers

Certain transfers of value are exempt from inheritance tax: for example certain small gifts, gifts to charities and gifts to spouses or civil partners1. Furthermore, certain dispositions made after 18 March 1986 may be potentially exempt from inheritance tax if the transferor survives the disposition by seven years2, although the changes to the inheritance tax treatment of settlements introduced by the Finance Act 2006 have restricted the scope of potentially exempt transfers to (generally) outright gift. The creation of a settlement on or after 22 March 2006 is now an immediately chargeable transfer, save

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