Commentary

I12.1143 Other aspects of non-exempt specific gifts of business or agricultural property

IHT, trusts and estates

I12.1143 Other aspects of non-exempt specific gifts of business or agricultural property

I12.1143 Other aspects of non-exempt specific gifts of business or agricultural property

As described in I12.1141, I12.1142, where there is an exempt gift of residue, the maximum use is made of business or agricultural relief by making a specific gift or gifts of the property qualifying for the relief(s) to non-exempt beneficiaries. Where a non-exempt specific gift of business or agricultural property is made in this way, there may be a possibility that the taxable value of the specifically given property will exceed the available amount of nil-rate band, eg because the nil-rate available on death comes to be diminished by lifetime gifts, or because the

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