Commentary

I3.143 Commercial transactions for IHT―no intention to benefit

IHT, trusts and estates

I3.143 Commercial transactions for IHT―no intention to benefit

I3.143 Commercial transactions for IHT―no intention to benefit

For IHTA 1984, s 10 to apply it must be shown that the disposition (including an omission)1 was not intended, and was not made in a transaction intended, to confer a gratuitous benefit on any person.

The burden of proof of intention lies with the person claiming that the disposition is within IHTA 1984, s 10 and therefore he must establish to the satisfaction of HMRC2 that the transferor:

  1.  

    •     sought to obtain a full open market price under the transaction, and

  2.  

    •     had no donative intent3

The intention not to confer a gratuitous

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