Commentary

I7.513 Conditional exemption—chargeable events: introduction

IHT, trusts and estates

I7.513 Conditional exemption—chargeable events: introduction

Conditional exemption—chargeable events

I7.513 Conditional exemption—chargeable events: introduction

Where conditional exemption has been given in respect of any property and subsequently a 'chargeable event' occurs, IHT becomes chargeable1. A chargeable event can arise on:

  1.  

    •     a material breach of an undertaking2 (see I7.513A)

  2.  

    •     a disposal of the property by sale, gift or otherwise3 (see I7.513B)

  3.  

    •     the death of the person beneficially entitled to the property4 (I7.513C)

A chargeable event relating to one item of property can constitute a chargeable event for other property that is associated with it: see I7.513D. The persons who are liable for the IHT

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