I1.502 Scope

Lifetime dispositions by individuals

I1.502 Scope

This section of the Division is concerned with taxable lifetime dispositions made by individuals out of their absolute property. It is not concerned with artificial persons such as companies or corporations, or with trustees of settled property acting in their capacity as such. Companies or corporations are not charged to IHT but in some circumstances transfers by close companies are apportioned to individuals (see I1.536 below). Settled property is covered in I1.525–I1.527 below.

The tax charge is not on gifts, but on transfers of value. The net is cast wider than gifts, so as

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