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HMRC internal manual

Capital Gains Manual

Gifts: Inheritance Tax: other gifts exempt from Inheritance Tax

TCGA92/S260(2)(b), (c), (e) and (f)

TCGA92/S260 (2)(b)(i) gives hold-over relief on gifts to political parties.

TCGA92/S260 (2)(b)(iii) (iv), (c), (e) and (f) give relief for transfers of heritage property and works of art and transfers to funds to maintain heritage property if the transfer is exempt from Inheritance Tax.

If the gift is to a charity or a body listed in Schedule 3 Inheritance Act 1984 (see IHTM11224) TCGA92/S257 (2) gives priority to that section. See CG66620+ for guidance on section 257.

TCGA92/S258 (3) gives relief to outright gifts including gifts into settlement. If some consideration is received hold-over relief is available if the disposal is exempt from Inheritance Tax. See CG73300+ for guidance on section 258.