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Home / Simons-Taxes /IHT, trusts and estates /Part I5 Settled property /Division I5.3 Settlements within the relevant property regime /Exit charges—exceptions / I5.336 Property becoming held for charitable purposes or by exempt bodies
Commentary

I5.336 Property becoming held for charitable purposes or by exempt bodies


IHT, trusts and estates

Subject to the qualifications mentioned below, there is no IHT charge on property ceasing to be relevant property on becoming1:

  1. Ìý

    •ÌýÌýÌýÌý property held for charitable purposes only without limit of time (defined by a date or otherwise)

  2. Ìý

    •ÌýÌýÌýÌý the property of a political party exempt under IHTA 1984, s 24 (see I4.216)

  3. Ìý

    •ÌýÌýÌýÌý the property of a body mentioned in IHTA 1984, Sch 3 (heritage bodies etc) (see I4.218)

If, however, the diminution in value of the relevant property in the settlement exceeds the value

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