IHTM06102 - Excepted transfers and terminations - qualifying transactions
The regulations specify three circumstances in which an immediately chargeable transfer or termination can qualify as an excepted transfer or termination
- where the value transferred or the property in which the interest subsists is attributable to cash or quoted shares or securities,
- where the value transferred or the property in which the interest subsists is attributable to any other property, and
- where the value transferred in consequence of a termination does not exceed any exemptions that are available.