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HMRC internal manual

Inheritance Tax Manual

From
HM Revenue & Customs
Updated
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Sales of related property, etc: sales may not be made in conjunction with the sale of related or other property with which it was originally valued

The sale will not qualify for relief if it is made in conjunction with a sale of any of the related or other property (IHTM09755) with which it was originally valued, IHTA84/S176 (3)(b).

The words ‘in conjunction with’ should be given a wide meaning and, in particular, you should normally treat it as including any sale to purchasers or associates of purchasers who then go on to acquire some or all of the related other property. The exception to this is where it is clearly established that the sale did not proceed in the expectation of that acquisition.