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A New Role for the Special Commissioner

William Massey QC analyses this new role in the light of Application to vary Undertakings of Owners A and B (SpC 439 of 27 October 2004) in which he acted as leading counsel for A and B
Between 1976 and Budget Day 1998 much of the 'heritage' of the UK passed from father/mother to son/daughter with the benefit of conditional exemption from IHT. The objects had been designated by the Treasury as 'of national scientific historic or artistic interest'. Each owner had made a claim on the occasion when the chattels passed to him for the transfers to be given the status of 'conditionally exempt transfers'. As such the objects would escape IHT on the transfer until the next death disposal or sale ...

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