22 November 2006
Our client gifted a large number of shares to his wife. Tragically, within 30 days of the gift, the wife died. Our client was the only beneficiary of the wife's estate and accordingly the shares in question were, on the wife's death, inherited by our client. Our initial reading of the rules is that the inheritance is treated as an acquisition at probate value on the date of death (TCGA 1992, s 62(4)).
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