Commentary

I5.336 Property becoming held for charitable purposes or by exempt bodies

IHT, trusts and estates

I5.336 Property becoming held for charitable purposes or by exempt bodies

I5.336 Property becoming held for charitable purposes or by exempt bodies

Subject to the qualifications mentioned below, there is no IHT charge on property ceasing to be relevant property on becoming1:

  1.  

    •     property held for charitable purposes only without limit of time (defined by a date or otherwise)

  2.  

    •     the property of a political party exempt under IHTA 1984, s 24 (see I4.216)

  3.  

    •     the property of a body mentioned in IHTA 1984, Sch 3 (heritage bodies etc) (see I4.218)

If, however, the diminution in value of the relevant property in the settlement exceeds the value of the property received by

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