Commentary

I7.508 Variation of undertakings

IHT, trusts and estates

I7.508 Variation of undertakings

I7.508 Variation of undertakings

IHTA 1984, s 35A provides for the variation of undertakings which have already been given in respect of conditionally exempt property. It applies from 31 July 1998, but it enables undertakings given before that date to be varied, and indeed its main purpose is to enable existing undertakings to be varied so that there is greater public access to items which were granted conditional exemption before the changes made by FA 1998 were introduced.

Variation of undertakings given on or after the passing of FA 1998

An undertaking given on or after 31 July 1998 is subject to the variation provisions of IHTA 1984, s 35A1. Such an undertaking may be varied from time to time by agreement between the Board and the person bound by the undertaking2. This is backed up by power to impose a variation where the person so bound does not agree to a variation proposed by HMRC. Where the Tribunal is satisfied that HMRC have made a proposal to the person bound by the undertaking for the undertaking to be varied, that that person has failed to agree to it within six months after the proposal was made, and that it is just and reasonable, in all the circumstances, to require the variation to be made, then the Tribunal may direct that the

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