Commentary

I4.306 Loss on sale of shares — capital receipts

IHT, trusts and estates

I4.306 Loss on sale of shares — capital receipts

I4.306 Loss on sale of shares — capital receipts

An adjustment is made for any capital payment received by the appropriate person attributable to any qualifying investment (see I4.301A for the meaning of these terms) comprised in the deceased's estate immediately before his death which is sold by the appropriate person within the 12 months immediately following the date of death.

All such capital payments, whether received during or after the expiry of the 12 month period, are aggregated with the sale price (or best consideration as the case may be) in determining the loss on sale1. As to the meaning

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