| 单词 | transfer of value |
| 释义 | transfer of value transfer of value a disposition made by a person (the transferor) as a result of which the value of his estate immediately after the dispo- sition is less than it would be but for the disposition, and the amount by which it is less is the value transferred. This definition is for inher- itance tax purposes where tax is charged on the loss to an estate resulting from a transfer of value. The definition is found in the Inheritance Tax Act 1984.The value transferred is usually the value of the property trans- ferred, but this is not always so; for example, where A owned 51 per cent of the shares in a company and gave away 5 per cent, the loss to his estate would be greater (because of the consequent loss of control of the company) than the value of the 5 per cent transferred. |
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