Commentary

I6.101 Introduction to close companies and IHT

IHT, trusts and estates

I6.101 Introduction to close companies and IHT

Part I6     Close companies and partnerships

Contents of Part I6

I6.1     Close companies

I6.2     Partnerships and IHT

Division I6.1     Close companies

For updates affecting this Division please see Part I0 Updates

Close companies—the basics

I6.101 Introduction to close companies and IHT

Under the main charging provisions, IHT on a lifetime transfer is charged only if there is a disposition made by an individual as a result of which his estate immediately after the disposition is less than it would have been but for that disposition1 — see I3.102, I3.111. If there were no additional legislation, an individual could pass value out

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