Dispositions not intended to confer bounty: IHTA84/S10 qualified or excluded
The application of IHTA84/S10 (1) is qualified or excluded if the transaction involves two types of property.
- at a price freely negotiated at the time of the sale, or
- at a price such as might be expected to have been freely negotiated at the time of the sale.
Any transaction concerning the sales of unquoted shares or debentures where the provisions of IHTA84/S10 are in point is the responsibility of Shares and Assets Valuation (SAV). You should refer any such case to SAV at an early stage.
IHTA84/S10 (1) does not apply to a disposition (IHTM04023) by which
- a person who is entitled to an interest (whether in possession or not) in any settled property
- acquires a reversionary interest expectant (whether immediately or not) on that interest.