Commentary

I12.404 Chattels—the disposal and contribution conditions

IHT, trusts and estates

I12.404 Chattels—the disposal and contribution conditions

I12.404 Chattels—the disposal and contribution conditions

The disposal and contribution conditions applicable to chattels1 closely follow those applicable to land (see I12.403).

Accordingly, the disposal condition will be met where (a) at any time after 17 March 1986 the chargeable person owned the chattel or any other property the proceeds of disposal of which were (directly or indirectly) applied by another person towards the acquisition of the chattel and (b) the chargeable person disposed of all or part of his interest in the chattel or other property otherwise than by an excluded transaction.

The contribution condition will be met where at any

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