Commentary

I3.261 Value transferred by associated operations—the general rule

IHT, trusts and estates

I3.261 Value transferred by associated operations—the general rule

Value transferred by associated operations

I3.261 Value transferred by associated operations—the general rule

Operations are associated where they come within the definition in IHTA 1984, s 268, discussed at I3.115. Where value is transferred as a result of associated operations, the detailed rules of that section must be considered. The time at which dispositions by associated operations are treated as taking effect is considered in I3.132. I3.262–I3.266 deal with various points arising in the computation of the value transferred by a series of associated operations.

Once it has been established that there is a disposition by associated operations, prima facie

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