Shares or securities are 'unquoted' if they are not listed on a recognised stock exchange1. For further information on the meaning of listed see I8.301 and IHTM18131.
Qualifying conditions
The instalment option is available in relation to unquoted shares or securities of a company not controlled by the deceased immediately before his death if:
- Ìý
•ÌýÌýÌýÌý The IHT is due as a result of a chargeable transfer made on death, and the tax attributable to those shares or securities, together with the tax on any other property qualifying for the instalment option, amounts to 20% of the tax on the value transferred by the chargeable transfer on death for which the person paying the tax is liable in the same capacity2.
- Ìý
Liability to IHT will be relevant only in those cases where 100% BPR is not available – see I7.112B).
- Ìý
•ÌýÌýÌýÌý The IHT is due (irrespective of whether the transfer was on death, or was a transfer involving settled property which remains in the settlement,
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