IHTM11192 - Gifts to political parties: quantifying the exemption

When quantifying the exemption you should bear in mind that:

  • the exemption has no value limit because of the combined effect of IHTA84/S24 (1)(b) and FA88/S137. For transfers of value made before 15 March 1988, the exemption was limited to £100,000 if the transfer was made on, or within one year of the death of the transferor. The limit did not apply to loans because of IHTA84/S29 (5).
  • IHTM11013 gives guidance on how the exemption applies to lifetime transfers
  • special instructions apply if the transfer is only partly exempt (IHTM26001)
  • you should follow the instructions at IHTM11025 if there is a claim against a deceased person바카라 사이트™s estate which reduces the benefit that is taken and retained by the political party. If the claim is settled by the political party you should follow the guidance at IHTM11026Ìý
  • if the transfer of value (IHTM04024) takes the form of a loan of money or other property the instructions at IHTM11133 apply. This is because IHTA84/S29 (5) applies to gifts to political parties in the same way as it does to charity exemption (IHTM11101).