Statement of Practice E13
Published 15 April 1976
© Crown copyright 1976
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1. 1984 Sections 23 and 24 Inheritance Tax Act (IHTA) exempt from Inheritance Tax certain gifts to charities and political parties to the extent that the value transferred is attributable to property given to a charity etc. IHTA 1984 section 25 exempts certain gifts for national purposes and for the public benefit.
2. Where the value transferred (ie, the loss to transferor’s estate as a result of the disposition) exceeds the value of the gift in the hands of a charity, etc, the Commissioners for HM Revenue and Customs take the view that the exemption extends to the whole value transferred.
First publication
Revenue press release dated 15 April 1976.
Note: this statement was amended by IR 131 Supplement (November 1998).