There are various restrictions and anti-avoidance provisions relating to the charitable and other 'exempt body' exemptions (see I4.215–I4.218). They are set out in IHTA 1984, s 23 (the exemption for gifts to charity)1 and incorporated by reference in IHTA 1984, ss 24, 25 (the other 'exempt body' exemptions).
If a transfer of value does not comply with them then it is not exempt, unless it is a loan of money or other property — see I3.342. Their purpose is to prevent abuse of the exemptions and their use as a means of tax avoidance.
The main requirements they impose are that:
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•ÌýÌýÌýÌý the disposition should be immediate, unconditional and indefeasible2
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•ÌýÌýÌýÌý a disposition of an interest in property should be unlimited in time and of all the donor's interest in the property3
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•ÌýÌýÌýÌý there should be no interest reserved
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Web page updated on 17 Mar 2025 17:31