Commentary

I3.253 Calculating the value transferred — other taxes

IHT, trusts and estates

I3.253 Calculating the value transferred — other taxes

I3.253 Calculating the value transferred — other taxes

Although the value of the transferor's estate is reduced by the amount of IHT payable on the value transferred and borne by the transferor (see I3.523), other taxes, including capital gains tax, arising out of the transfer are left out of account1. Similarly, where CGT is borne by the transferee rather than the transferor, the value transferred is treated as reduced by the amount of CGT so borne by the transferee2 — see I3.611.

For the interaction between IHT and other taxes, see Division I3.6.

For

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