IHTM25291 - Contracts for sale:
Introduction
Property subject to a binding contract for sale is not relevant
business property (
IHTM25141) except where it is:
- a business or an interest in a business
and the sale is to a company which is to carry on the business and
is made wholly or mainly in consideration of shares in or
securities of that company, or
- shares in or securities of a company, and
the sale is made for the purposes of reconstruction or
amalgamation, IHTA84/S113.
Where a lifetime transfer (other than a potentially exempt
transfer (
IHTM04057) is made shortly before a
sale, you should investigate the circumstances (
IHTM14832) to ensure the relief is
properly due.
