Commentary

I11.721 Pre-owned assets

IHT, trusts and estates

I11.721 Pre-owned assets

Other anti-avoidance measures

I11.721 Pre-owned assets

Specific measures apply from 6 April 2005 to counteract the free continuing use of assets that have been ostensibly gifted1. It appears that this anti-avoidance was instigated because of the large amount of tax that has been, and is likely to be, lost through for example the 'double trust' home loan schemes, successful Eversden structures and chattels that are gifted and then rented back. For details of these provisions see Division I3.7.

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