The following Trusts and Inheritance Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This relief applies where assets in a deceased estate have been valued together with other assets for inheritance tax purposes so as to give an increased value, and they are subsequently sold for less than that value.
Most commonly, assets are valued together under the related property rules. A person's property is related to that of his spouse or civil partner, and to property which he has formerly given to a charity. See the Valuation of property guidance note.
Assets in the deceased's free estate are related to similar assets in a trust, in which he has a qualif
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