Commentary

I5.337 Property becoming comprised in maintenance funds

IHT, trusts and estates

I5.337 Property becoming comprised in maintenance funds

I5.337 Property becoming comprised in maintenance funds

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

  1.  

    •     on so ceasing it becomes property in respect of which a direction for maintenance funds for historic buildings etc1 (I7.541–I7.547) has effect, or

  2.  

    •     within 30 days beginning with the day on which it so ceases (or within two years if it so ceases on someone's death)2 an individual makes a transfer of value that is exempt3 (I7.544)4

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

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