Commentary

I4.314 Loss on sale of a lease

IHT, trusts and estates

I4.314 Loss on sale of a lease

I4.314 Loss on sale of a lease

It is in the nature of a leasehold interest that its value reduces as the term of the lease nears its end.

This is not a reduction in value which is appropriately the object of any IHT relief, and an adjustment has therefore to be made to the sale price of a leasehold interest if at the date of death the lease had no more than fifty years to run.

If the claim relates to an interest which is the interest of a lessee under a lease which at the date of the death had

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