Commentary

I4.236 Simple attribution where gifts are subject to tax

IHT, trusts and estates

I4.236 Simple attribution where gifts are subject to tax

I4.236 Simple attribution where gifts are subject to tax

Where a testator makes no chargeable specific gifts that do not bear their own tax, IHTA 1984, s 38(1) provides that 'such part of the value transferred shall be attributable to specific gifts as corresponds to the value of the gifts'. IHTA 1984, s 39 provides that 'such part only of the value transferred shall be attributed to gifts of residue or shares in residue as is not attributed under IHTA 1984, s 38 above to specific gifts'.

The general scheme therefore is clear enough. The value transferred on death is

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