The following Trusts and Inheritance Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
The legislation specifically excludes certain types of arrangements from the scope of inheritance tax even though the effect is a diminution in the value of the transferor’s estate.
The dispositions that are not transfers of value are:
A disposition is not a transfer of value if it can be shown that:
it was not intended and was not made in a transaction intended to confer any gratuitous benefit on any person
it was made in a transaction at arm’s length between persons not connected with each other or it was such as might be expected of such a transaction
IHTA 1984, s 10(1)
This rule does not apply to a sale of unquoted shares or unquoted debentures unless it is shown that the sale was at a price freely negotiated at t
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