Commentary

I8.244 Aggregation of property

IHT, trusts and estates

I8.244 Aggregation of property

I8.244 Aggregation of property

Apart from the related property rules, questions arise regarding the extent to which property, particularly unquoted shares, is aggregable for valuation purposes. There are two aspects of this. One, discussed in I8.205, is the case-law principle that different items of property are assumed to be sold together if that would produce a larger price. The other is IHTA 1984, s 5(1), which provides that a person's estate is the aggregate of all the property to which he is beneficially entitled. IHTA 1984, s 5(1), taken together with the provision that a person beneficially entitled to a beneficiary-taxed interest in possession in settled property is treated as beneficially entitled to the property in which the interest

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