IHTM24170 - Lifetime transfers: Introduction
Except where otherwise stated, the instructions contained in IHTM24001 through to IHTM24167 apply to both death and lifetime transfers. However there are a number of additional considerations to take into account with lifetime transfers. These are:
- the extent of relief where the value transferred exceeds the value of the property transferred (IHTM24174)
- whether the property transferred satisfies the definition of agricultural property (IHTM24030) may depend on whether it is considered in isolation or as part of the transferor’s estate as a whole (IHTM24171)
- additional conditions (IHTM24172) that apply to lifetime transfers when calculating