Commentary

I3.338 Transfers to maintenance funds

IHT, trusts and estates

I3.338 Transfers to maintenance funds

I3.338 Transfers to maintenance funds

A transfer of value is an exempt transfer to the extent that the value transferred by it is attributable to property which becomes part of an approved maintenance fund for historic buildings etc1.

Approval or, more accurately, designation is granted by HMRC and is governed by IHTA 1984, Sch 4.

For further information see:

Maintenance funds — overviewI7.541
Restrictions and anti-avoidance provisionsI4.221
Introduction to exemptions within a purchased reversionI5.731

Loans cannot qualify for exemption as a transfer to a maintenance fund.

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial