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HMRC internal manual

Capital Gains Manual

Relief for Gifts Subject to Inheritance Tax: Valuation and Claims


In order to calculate both the held-over gain and, where applicable, the chargeable gain arising on the gift, the market value of the asset at the date of disposal will need to be ascertained.

For guidance on obtaining valuations and when these can be deferred, see CG66890 and CG66891.


Hold-over relief on gifts subject to Inheritance Tax must be claimed using form HS295. Further detail on this and the applicable time limits is at CG66889.