Capital receipts

If the appropriate person receives any capital payment attributable to qualifying investments sold within 12 months of the date of death, then for the purposes of the relief, the sale price (or best consideration if substituted therefor) is treated as increased by an amount equal to the capital payment (IHTA 1984, s. 181(1)). This is reasonable enough and avoids the relief being given in circumstances where it should not be available.

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