Commentary

I5.332 Payments, costs and expenses for exit charges

IHT, trusts and estates

I5.332 Payments, costs and expenses for exit charges

I5.332 Payments, costs and expenses for exit charges

Tax is not charged in respect of the following payments (or liabilities to make such payments)1:

  1.  

    •     costs or expenses (so far as they are fairly attributable to relevant property), or

  2.  

    •     a payment which is (or will be) income of any person for any of the purposes of income tax or would for any of those purposes be income of a person not resident in the UK if he were so resident

'Payment' includes a transfer of assets other than money2.

See I5.143 for

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