Related Commentary  Related CasesRelated HMRC Manuals

162(1)  A liability in respect of which there is a right to reimbursement shall be taken into account only to the extent (if any) that reimbursement cannot reasonably be expected to be obtained.

162(2)  Subject to subsection (3) below, where a liability falls to be discharged after the time at which it is to be taken into account it shall be valued as at the time at which it is to be taken into account.

162(3)  In determining the value of a transferor’s estate immediately after a transfer of value, his liability for capital transfer tax shall be computed–

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