971. Meaning Of 'Disposition For Maintenance Of Family'. | Taxation Law | LexisNexis

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971. Meaning of 'disposition for maintenance of family'.

A disposition is not a transfer of value if it is a disposition made under the following conditions¹:

(1) by one party to a marriage² or civil partnership³ in favour of the other party or of a child⁴ of either party and is either for the maintenance of the other party⁵ or for the maintenance, education or training of the child for a period ending not later than the year⁶ in which he attains the age of 18 or, after attaining that age, ceases to undergo full-time education or training⁷;
(2) in favour of a child who is not

(1) Main Charging Provisions

951. Overview of inheritance taxation.

952. Chargeable transfer.

953. Meaning of 'transfer of value' and 'value transferred'.

954. Meaning of 'estate'.

955. Excluded property.

956. Notional dispositions.

957. Deemed transfers of value.

958. When a transfer is made.

959. Transfers by instalments.

960. Meaning of 'associated operations'.

961. Transfer of value by associated operations.

962. Chargeable transfers affecting more than one property.

963. Chargeable transfers made on the same day.

964. IHT rates.

965. Nil rate band.

966. Transfer of nil rate band.

967. Residence nil rate amount.

968. Dispositions not resulting in immediate reduction in value; and dispositions whereby excluded property ceases to form part of estate.

969. Dispositions not intended to confer gratuitous benefit.

970. Dispositions for maintenance of family.

971. Meaning of 'disposition for maintenance of family'.

972. Dispositions allowable for income tax or corporation tax.

973. Contributions to certain pension schemes.

974. Waiver of dividends.

975. Grant of tenancies of agricultural property.

976. Certain changes in the distribution of a person's estate.

977. Transfer of value by close company.