Contents of Part I6
I6.1ÌýÌýÌýÌý Close companies
I6.2ÌýÌýÌýÌý Partnerships and IHT
Division I6.1ÌýÌýÌýÌý Close companies
For updates affecting this Division please see Part I0 Updates
Close companies—the basics
I6.101 Introduction to close companies and IHT
Under the main charging provisions, IHT on a lifetime transfer is charged only if there is a disposition made by an individual as a result of which his estate immediately after the disposition is less than it would have been but for that disposition1 – see I3.102, I3.111. If there were no additional legislation, an individual could pass value out of his estate without making a disposition or by causing some other person (not being an individual) to make a disposition which indirectly affected the value of his estate, and he could escape liability to IHT.
One means of doing
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 17:34