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Home / Simons-Taxes /IHT, trusts and estates /Part I8 Valuation /Division I8.3 Valuation of particular types of property /Valuing partnerships / I8.331 Valuation of partnership interests
Commentary

I8.331 Valuation of partnership interests


IHT, trusts and estates

I8.331 Valuation of partnership interests

Partnerships do not have any special status for IHT purposes. Partners' interests are taxed under the general taxing provisions and are entitled to the usual reliefs and exemptions. A partner or prospective partner may incur an IHT charge mainly in five specific situations:

  1. Ìý

    (a)ÌýÌýÌýÌý forming a new partnership — see I6.211

  2. Ìý

    (b)ÌýÌýÌýÌý varying the terms of a partnership agreement (for example on admitting a new partner) — see I6.221B

  3. Ìý

    (c)ÌýÌýÌýÌý making a gift of a partnership interest before death or retirement — see I6.224

  4. Ìý

    (d)ÌýÌýÌýÌý on death in service — see I6.232 and I8.335

  5. Ìý

    (e)ÌýÌýÌýÌý on retirement — see I6.231

The possibilities to consider in connection with the first three of these occasions encompass immediate

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