IHTM14532 - Lifetime transfers: the charge to tax: immediately chargeable transfers: value for tax

You calculate the chargeable value on the usual basis of loss to the estate of the transferor. (IHTM04054)

You will need to gross up the value if the transferor pays the tax. (IHTM14541)

You can allow business (IHTM25131) and agricultural (IHTM24170) relief if the conditions for relief are satisfied at the time of the transfer.

Gifts with Reservation (GWRs)

You consider double charges relief if the transfer is a GWR (IHTM14711).