Commentary

I8.101 Value transferred by a lifetime chargeable transfer

IHT, trusts and estates

I8.101 Value transferred by a lifetime chargeable transfer

Part I8     Valuation

Contents of Part I8

I8.1     Introduction

I8.2     Principles of valuation

I8.3     Valuation of particular types of property

Division I8.1     Valuation: Introduction

For updates affecting this Division please see Part I0 Updates

Introduction to IHT valuation

I8.101 Value transferred by a lifetime chargeable transfer

A transfer of value is a disposition made by a person (the transferor) as a result of which the value of his estate immediately after the disposition is less than it would be but for the disposition, and the amount by which it is less is the value transferred by the transfer1. A chargeable transfer is a transfer of value made by an individual (either directly or via a close company2) which is not an exempt transfer3. If a lifetime chargeable transfer has

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