Commentary

I1.506 Value transferred

IHT, trusts and estates

I1.506 Value transferred

I1.506 Value transferred

After it has been established that there is a transfer of value the next stage is to establish the value transferred. As mentioned in I1.503 above, this is a question of the extent to which a person's estate, taken as a whole, has been diminished in value as a result of the disposition that constitutes a transfer of value. There are some specific rules for particular circumstances. See, further, Division I3.2. Particularly noteworthy points are:

  1.  

    (a)     Some property is specifically brought into account as part of a person's estate, such as unsettled property over which he has

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial