Lifetime transfers: transfers by close companies: exemptions
- the annual exemption (IHTM14141) is available as the restriction in IHTA84/S19(5) to deemed transfers of value does not extend to transfers under IHTA84/S95(5).
- spouse or civil partner exemption (IHTM11031) to the extent that the estate of the spouse or civil partner of a participator is increased.
The exemptions for
- small gifts (IHTM14180),
- normal expenditure out of income (IHTM14231), and
- gifts in consideration of marriage or civil partnership (IHTM14191)
are not available since they cannot apply to deemed transfers.