Commentary

I3.111 The chargeable transfer

IHT, trusts and estates

I3.111 The chargeable transfer

I3.111 The chargeable transfer

A chargeable transfer is defined as a transfer of value made by an individual which is not an exempt transfer (see Division I3.3)1.

A transfer of value is where there is a reduction in the value of an estate as a result of a person, 'the transferor' making a disposition (see I3.114)2.

For the details of the meaning of 'estate', see I3.211.

The concepts of an estate and of loss to that estate as the measure of the value transferred are central to IHT both in defining where a charge may arise and what the amount of a

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