Commentary

I1.504 Extensions of 'transfer of value'

IHT, trusts and estates

I1.504 Extensions of 'transfer of value'

I1.504 Extensions of 'transfer of value'

There are various ways in which the meaning and scope of 'transfer of value' are extended beyond the basic definition referred to above, as follows:

  1.  

    (a)     'Disposition' is defined to include dispositions effected by associated operations1. This means that any number of operations or omissions, not by themselves necessarily transfers of value, and not necessarily very closely connected, which affect the same property or property representing it or its income, or which are operations related in their purposes, can be treated as a single disposition (see I3.115). A transfer by associated operations is treated

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