Commentary

I5.307 Depreciatory transactions in relevant property trusts

IHT, trusts and estates

I5.307 Depreciatory transactions in relevant property trusts

I5.307 Depreciatory transactions in relevant property trusts

Subject to the exceptions mentioned in I5.331–I5.342, if the trustees of the settlement make a disposition, a result of which the value of relevant property in the settlement is less than it would otherwise have been, there is a charge to IHT1 at the rates determined as described in I5.3132.

This prescribes the same rules for taxing depreciatory dispositions made by trustees of relevant property as those which relate to dispositions by individuals (I3.111–I3.114). The use of the word 'disposition' means that the following will be charged to tax:

  1.  

    •     a disposition effected by associated

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