Commentary

I7.523 Deferred estate duty

IHT, trusts and estates

I7.523 Deferred estate duty

I7.523 Deferred estate duty

The estate duty relief corresponding to conditional exemption was under FA 1930, s 40. The provisions of the estate duty legislation continue to operate, subject to IHTA 1984, Sch 6, para 4, in relation to works of art etc which obtained the estate duty relief and still have not been sold or been subject to a CTT/IHT transfer. If there is a breach of undertaking, sale or (from 16 September 2016) loss of the asset, a tax charge may arise. For a more detailed account see I4.560.

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