Commentary

I1.204 Estate duty—lifetime gifts

IHT, trusts and estates

I1.204 Estate duty—lifetime gifts

I1.204 Estate duty—lifetime gifts

The rule that gifts made within three months of death were subject to account duty had already been extended, before estate duty was introduced, to gifts made within 12 months of death1. After its introduction, estate duty was extended to catch gifts made before death and the same period was adopted. This period was later extended to three years (1910), five years (1946) and finally seven years (1968)2.

Lifetime gifts that were subject to a reservation of benefit to the donor, or to continued enjoyment by him of the property he had given away, were charged to

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