Contents of Part I8
I8.1ÌýÌýÌýÌý Valuation for IHT—introduction
I8.2ÌýÌýÌýÌý Principles of valuation
I8.3ÌýÌýÌýÌý Valuation of particular types of property
Division I8.1ÌýÌýÌýÌý Valuation for IHT—introduction
For updates affecting this Division please see Part I0 Updates
Introduction to IHT valuation
I8.101 Value transferred by a lifetime chargeable transfer
A transfer of value is a disposition made by a person (the transferor) as a result of which the value of his estate immediately after the disposition is less than it would be but for the disposition, and the amount by which it is less is the value transferred by the transfer1. A chargeable transfer is a transfer of value made by an individual (either directly or via a close company2) which is not an exempt transfer3.
If a lifetime chargeable transfer has been made, the value transferred must be calculated and added to the transferor's cumulative total, to determine the amount of tax to be charged.
For further information on the above see:
| The chargeable transfer | I3.111 |
| Introduction |
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 17:08