IHTM14011 - Lifetime transfers: basis of valuation: summary

The general rule under IHTA84/S3 is that the value transferred by a transfer of value (IHTM04024) is the:

  • amount by which the value of the transferor바카라 사이트™s estate is reduced (the loss to the estate principle) (IHTM04054). (See also IHTM04093 and IHTM04094 for the position when a life interest comes to an end during the life tenant바카라 사이트™s lifetime.)
  • but taking no account of any excluded property (IHTM04251) which is no longer part of the transferor바카라 사이트™s estate as a result of that disposition.

To work out the loss to the transferor바카라 사이트™s estate you must also take into account other property in the transferor바카라 사이트™s estate, such as settled property (IHTM04081) and related property (IHTM09731).