Commentary

I4.301A Loss on sale of shares — definitions

IHT, trusts and estates

I4.301A Loss on sale of shares — definitions

I4.301A Loss on sale of shares — definitions

The appropriate person

'The appropriate person', in relation to any qualifying investments comprised in a person's estate immediately before his death, means the person liable for the IHT attributable to the value of those investments or, if there is more than one such person and one of them is in fact paying the tax, that person1.

Qualifying investments

'Qualifying investments' means2 shares or securities which at the date of the death in question are quoted on a recognised stock exchange3, holdings in an authorised unit trust4, shares in any common investment fund5, and

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