Commentary

I4.560 Estate duty and heritage property

IHT, trusts and estates

I4.560 Estate duty and heritage property

Estate duty

I4.560 Estate duty and heritage property

Relief from estate duty

FA 1930, s 40, as amended, provided a relief from estate duty in respect of pictures, prints, books, manuscripts, works of art, scientific collections and other non-income producing assets of national, scientific, historic or artistic interest, which was not unlike the conditional exemption now afforded such objects by IHTA 1984, s 30 (see Division I7.5). Thus, the value of such objects could be left out of account in computing the estate duty liability on a death, and a charge to tax would only subsequently arise if the property was disposed

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