Commentary

I3.363 Fall in value relief—not all the property is sold

IHT, trusts and estates

I3.363 Fall in value relief—not all the property is sold

I3.363 Fall in value relief—not all the property is sold

Where part of the property transferred (see I3.361) is sold, and part retained, it must be treated as several 'transferred properties', each corresponding to a part which has been sold in a single sale, or retained at the transferor's death. The relief is calculated separately for each asset sold for a loss and for each asset which has a lower market value at the date of death than at the date of the lifetime transfer. For some simple examples see IHTM14631.

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