Commentary

I7.532 Events before 9 March 1982

IHT, trusts and estates

I7.532 Events before 9 March 1982

I7.532 Events before 9 March 1982

The rules described below relate to occasions of CTT charge after 6 April 1976, the date from which the conditional exemption rules were replaced and extended to cover discretionary and other trusts, and before 9 March 1982, the date from which the rules for CTT on such trusts were replaced by new rules.

Where works of art, historic buildings etc1 have been comprised in a discretionary or other trust for six years2 no event which would otherwise be a distribution payment or capital distribution counts as such so long as the property has been designated by the Board and the usual undertaking has been given by such person as the Board thinks appropriate3. Such an event which is not to count as a distribution payment or a capital distribution is referred to as a

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