Commentary

I12.406 Excluded transactions—the contribution condition

IHT, trusts and estates

I12.406 Excluded transactions—the contribution condition

I12.406 Excluded transactions—the contribution condition

The provision of consideration by a chargeable person for another person's acquisition of any property will be an excluded transaction for the purposes of the contribution condition in the following circumstances1:

  1.  

    (i)     Where the other person is the chargeable person's spouse (or, where a transfer has been ordered by the court, his former spouse).

  2.  

    (ii)     Where on its acquisition the property became settled property in which the chargeable person's spouse or former spouse is beneficially entitled to an interest in possession. A disposal will not be excluded under this head if the spouse's interest in

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