Related Commentary  Related HMRC Manuals

19(1)  Transfers of value made by a transferor in any one year are exempt to the extent that the values transferred by them (calculated as values on which no tax is chargeable) do not exceed £3,000.

19(2)  Where those values fall short of £3,000, the amount by which they fall short shall, in relation to the next following year, be added to the £3,000 mentioned in subsection (1) above.

19(3)  Where those values exceed £3,000, the excess–

(a)shall, as between transfers made on different days, be attributed so far as possible to a later rather than an earlier transfer, and

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.