Commentary

C2.226 Inheritance tax on certain gifts

Capital gains tax
Capital gains tax | Commentary

C2.226 Inheritance tax on certain gifts

Capital gains tax | Commentary

C2.226 Inheritance tax on certain gifts

Where a claim for holdover relief is made in respect of a gift1, and the gift is also a transfer of value for inheritance tax, any inheritance tax payable may be deducted by the donee in computing gains on a subsequent disposal of the asset2. The amount of the deduction is restricted to the amount of the chargeable gain, so that the deduction cannot create or increase a loss3.

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