IHTM25321 - Successions:
Introduction
For the purposes of the ownership test (
IHTM25301) there are two situations in
which the deceased/transferor is treated as being the owner of the
business property, IHTA84/S108.
- Where the deceased/transferor became entitled to property on
the death of another person, they are treated as having owned it
from the date of the other person's death, IHTA84/S108 (a).
Business property included in an unadministered residuary estate (
IHTM22025) comes within this provision
as a result of IHTA84/S91.
- Where the deceased/transferor became entitled to property on
the death of their spouse or civil partner (
IHTM11032) they are deemed to have
owned the property for any period during which the spouse or civil
partner owned it (irrespective of how long they had been married),
IHTA84/S108 (b).
These rules also apply for the purposes of the replacement
property provisions (
IHTM25311), but they do not apply to
the successive transfer provisions (
HTM25331).
The rules are summarised in a chart (
IHTM25322).
