Commentary

I4.301 Overview to loss on sale of shares

IHT, trusts and estates

I4.301 Overview to loss on sale of shares

Division I4.3     Property sold or valueless after death

For updates affecting this Division please see Part I0 Updates

Loss on sale of quoted securities

I4.301 Overview to loss on sale of shares

IHT is chargeable on death as if the deceased had immediately before his death made a transfer of value equal to the value of his estate (see I4.101)1. In general, the value charged to IHT is the value of the estate immediately before the death.

However many practical problems can result. The personal representatives (PRs) must sell assets included in the estate in order to pay debts and IHT, but they cannot do so until they have obtained a grant of

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