Where the ‘appropriate person’ (
IHTM33050) acting in the same
capacity
all sales by that person must be taken into account, IHTA84/S191 (1). This means that the sold interest in land has to be revalued at its sale value ( IHTM33073), whether the sale value is higher or lower than the date of death value ( IHTM33100).
| Example
A and B as trustees of a settlement sell Whiteacre. They are then replaced by C & D who, as trustees of that settlement sell Greenacre. All sales are within four years after the death. Both sales must be taken into account for the purposes of relief (the trustees are treated as a single and continuing body) If A and B, as trustees of a different settlement, have sold a further property at a loss, any claim arising would be considered wholly separately. |
The only sales not taken into account in this way are
You must also refer to TG any claim where there is a sale of more than one interest in land and the claim includes land that has been sold at higher value than the date of death value, and that land is either
