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HMRC internal manual

Inheritance Tax Manual

Appropriate person: basic condition

The sale of shares must be by the appropriate person (IHTM33050).  The appropriate person must also claim the relief.

IHTA84/s178 (1) states that the appropriate person is the person who is liable for the tax that is payable on the qualifying investments (IHTM34131). If more than one person is liable then the appropriate person is the one who actually pays the tax. For the free estate the appropriate person will normally be the legal personal representatives. For settled property it will normally be the trustees.  

If the investments have been transferred into the names of the beneficiaries they can only make a claim if they are actually paying the tax on the investments, for example a specific legatee who is bearing the tax.