Commentary

I4.309 Loss on sale of shares — attribution of values

IHT, trusts and estates

I4.309 Loss on sale of shares — attribution of values

I4.309 Loss on sale of shares — attribution of values

There is provision1 for determining the value for the purposes of IHT of any particular investment (referred to as a 'specific investment') which is included among the qualifying investments (see I4.301A) which are taken into account2 in determining the loss on sale3.

For the basic principles see I4.302.

The value so determined is also the market value of that investment for CGT purposes at the date of death4.

The general rule is that the value of a specific investment is its sale value5, but this is subject to the exceptions described below.

In a case where the calculation of the loss on sale of the investments

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial