Where a disposal of timber on which further IHT is chargeable (see I7.404) is itself a chargeable transfer (for example a CLT or failed PET), the value transferred by it is calculated as if the value of the trees or underwood had been reduced by the IHT chargeable by reference to the death1.
Example
C died in July Year 1 leaving a net estate of £1,750,000, which included qualifying woodlands worth £400,000.
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 14:58