Client was gifted an investment property by a parent. The parent died after three years. The parent's estate was sizeable and the client as transferee apparently had to pay IHT on what turned out to be a failed PET. The client has now sold the property (in order amongst other reasons, to pay the IHT). Can the IHT paid get added to the date of gift market value for CGT purposes or is no such relief available?
27th Oct 2017
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Acquisition "cost" of failed PET for CGT purposes
Acquisition "cost" of failed PET for CGT purposes