The legislation contains special provisions explained above (see I3.365–I3.367), designed to ensure that with respect to shares and securities and interests in land the relief is not abused by artificial reductions in value between the date of the chargeable transfer and the relevant date. The relief is available only so far as a fall in value reflects market conditions. IHTA 1984, s 139 applies in the same way to other property.
When such property is transferred by a lifetime transfer (see
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 17:09