IHTM24170 – Lifetime
transfers: Introduction
Except where otherwise stated, the instructions contained in
IHTM24001 through to
IHTM24167 apply to both death and
lifetime transfers. However there are a number of additional
considerations to take into account with lifetime transfers. These
are
- the extent of relief where the value
transferred exceeds the value of the property transferred (
IHTM24174)
- whether the property transferred satisfies
the definition of agricultural property (
IHTM24030) may depend on whether it is
considered in isolation or as part of the transferor’s estate
as a whole (
IHTM24171)
- additional conditions (
IHTM24172) that apply to lifetime
transfers when calculating
-
- the taxable value transferred by a PET (
IHTM04057)
- the additional tax on other lifetime
chargeable transfers payable by reason of the transferor’s
death, and
special rules for charges under the GWR (
IHTM24200) provisions.
