IHTM14165 - Lifetime transfers: schemes to exploit annual exemption: split proceeds from property on trust for sale

The deed provides that the property is held on trust for sale and that the proceeds are held as to £x for the donor (the deceased) and the balance for the donee. £x may be £3,000 less than the stated value of the property.

  • The initial transfer is of the property at its open market value, less £x.
  • If a later deed reduces the proceeds held for the donor to £y, the value then transferred is £x minus £y.

Include in the donor바카라 사이트™s estate on death the amount shown as held for the donor in the last relevant deed executed before the death.

Refer any Scottish deed attempting to transfer part of a property in this way to Technical.