IHTM33111 - Adjustments to sale price: introduction

In the straightforward case the relief operates by replacing the value on death ( IHTM33100) by the sale price ( IHTM33072).

But there are special rules that adjust the sale price

• to ensure that the date of death values and the sale prices are compared on the same basis, and
• to take account of exchanges ( IHTM33150) of land or purchases ( IHTM33161).

These adjustments provide the sale value ( IHTM33073) on which the relief is based.

Any adjustment to the sale price and the resulting revised date of death values will need to be notified to the tax office ( IHTM33046) when a claim is made more than 3 years after the death or if the tax office approaches you for information regarding a claim for relief.