260 Gifts on which inheritance tax is chargeable etc
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

260  Gifts on which inheritance tax is chargeable etc

(1)     If—

(a)     an individual or the trustees of a settlement (“the transferor”) make a disposal within subsection (2) below of an asset,

(b)     the asset is acquired by an individual or the trustees of a settlement (“the transferee”), and

(c)     a claim for relief under this section is made by the transferor and the transferee or, where the trustees of a settlement are the transferee, by the transferor alone,

then, subject to subsection (6) below and [sections 169[, 169B, 169C][, 261 and 261ZA]], subsection (3) below shall apply in relation to the disposal.

(2)     A disposal is within this subsection if it is made otherwise than under a bargain at arm's length and—

(a)     is a chargeable transfer within the meaning of the Inheritance Tax Act 1984 (or would be but for section 19 of that Act) and is not a potentially exempt transfer (within the meaning of that Act),

(b)     is an exempt transfer by virtue of—

(i)     section 24 of that Act (transfers to political parties),

(ii)     . . .

(iii)     section 27 of that Act (transfers to maintenance funds for historic buildings etc), or

(iv)     section 30

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