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HMRC internal manual

Capital Gains Manual

National heritage: hold-over relief: other disposals of heritage property


Certain disposals which are not outright gifts, or which do not qualify for relief under TCGA92/S258 for some other reason, are eligible for hold-over relief under TCGA92/S260. Provided that the basic requirements of Section 260 are satisfied, see CG67030+, the following disposals are eligible for relief.

  • Disposals which are exempt transfers for the purposes of Inheritance Tax by virtue of

    • Section 27 Inheritance Tax Act 1984 (transfers to maintenance funds for historic buildings etc),
    • Section 30 Inheritance Tax Act 1984 (transfers of designated property).
  • Disposals to which Section 57A Inheritance Tax Act 1984 applies and as a result of which the property is held on trust in a fund for the maintenance of a historic building.
  • Disposals which, by virtue of Section 78(1) Inheritance Tax Act 1984, are exempt transfers for Inheritance Tax purposes (transfers of works of art).

If hold-over relief under Section 260 is claimed in respect of any of the above kinds of disposal and you are not certain whether the appropriate Inheritance Tax conditions are satisfied, you should refer the case to Specialist PT - IHT for advice. When doing so, you should set out the full facts of the case and indicate the precise Inheritance Tax provision on which the taxpayer is relying.