So far as the IHT on the chargeable lifetime transfer is attributable to the value of any property, IHTA84/S199 (1)(c) imposes liability on
or
References to any property include any property directly or
indirectly representing it (IHTA84/S199 (5)).
Because IHTA84/S199 (1)(b) also makes beneficiaries liable,
IHTA84/S199(1)(c) most commonly applies to persons, such as
trustees, who hold property in a fiduciary capacity. Other persons
liable under IHTA84S199 (1)(c) include purchasers (
IHTM30053).
Under IHTA84/S199 (4) persons in whom property is vested
include
and