Commentary

I3.146 Commercial transactions for IHT―unquoted shares

IHT, trusts and estates

I3.146 Commercial transactions for IHT―unquoted shares

I3.146 Commercial transactions for IHT―unquoted shares

There is an additional special requirement for sales of unquoted securities to come within IHTA 1984, s 10.

IHTA 1984, s 10(2) states that IHTA 1984, s 10(1) is not to apply to sales of unquoted shares or unquoted debentures1 unless it is shown that the sale was at a price freely negotiated at the time of the sale or at a price such as might be expected to have been freely negotiated at the time of the sale.

Thus the sale of such property will only enjoy the protection of IHTA 1984, s 10

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