Commentary

I3.252 Transferor's expenses

IHT, trusts and estates

I3.252 Transferor's expenses

I3.252 Transferor's expenses

Costs incurred by the transferor in making a chargeable transfer are left out of account in calculating the loss to his estate with the result that these expenses are not themselves chargeable as part of the value transferred1. Where the expenses are borne by a person benefiting from the transfer (which would include the trustees of a settlement to which property is being transferred) they are treated as reducing the value transferred2.

There is no indication of what constitutes expenses for IHT. They are defined for the purposes of capital gains tax as fees, commission or remuneration paid

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