gift with reservation
Gift by an individual of property where either (1) possession and enjoyment of the property is not bona fide assumed by the donee or (2) the property is not enjoyed to the entire exclusion, or virtually the entire exclusion, of the donor and of any benefit to him by contract or otherwise (Finance Act 1986 s 102 and sch 20).

Where there is a gift with reservation, the gift is charged to inheritance tax in the normal way. For the purpose of computing inheritance tax at death, however, the property gifted is treated as if it remained in the estate of the donor. There is, thus, potentially a double charge to inheritance tax; in such cases statutory instrument SI 1987/1130 art 6(4) operates to charge the higher of the two liabilities.

• jure imperii
• juridical
• jurimetrics
• jurisdiction
• juris et de jure
• jurisprudence
• juristic person
• juror
• jury
• jus
• jus accrescendi
• jus accrescendi inter mercatores pro beneficio commercii locum non habet
• jus ad rem
• jus civile
• jus cogens
• jus gentium
• jus in personam
• jus in re
• jus in re aliena
• jus naturale
• jus quaesitum tertio
• jus sanguinis
• jus soli
• just and equitable winding-up
• jus tertii