Relief from a double charge to tax is provided for in respect of transfers of value and other events occurring on or after 18 March 1986, where:
(1) property given by a potentially exempt transfer1 is subsequently returned (otherwise than for full consideration) by the donee to the transferor, and as a result of the transferor's death both that property and the potentially exempt transfer become chargeable to tax2;
(2) there is a transfer of value by way of gift of property which is or subsequently becomes a chargeable transfer3, and the property is (by virtue of the provisions
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