I3.331 Application of general exemptions during lifetime—introduction
The following exemptions can apply to lifetime (and death) transfers of value:
- Ìý
•ÌýÌýÌýÌý exemption for transfers between spouses or civil partners1, and
- Ìý
•ÌýÌýÌýÌý exemption for gifts mostly to charities and other similar bodies or institutions with public interest or public benefit purposes2
They are general exemptions in that they can apply to transfers on death as well as to lifetime ones, and also can apply to deemed transfers of value of settled property subject to a qualifying interest in possession (see I5.102), during the life or on the death of the person entitled to the interest in possession, or apportioned close company transfers (see Divisions I5.2, I6.1).
There
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