IHTM15001 - Joint property and nominated property: introduction

This section of guidance looks at the Inheritance Tax aspects of joint (IHTM15011) and nominated (IHTM15101) property. It deals with joint property first.

The ownership of property may be shared between several people. This section explains the consequences (IHTM15011) of holding property in this way and, in particular, how it passes on death (IHTM15081) and the Inheritance Tax claims (IHTM15012) on it.

The rules relating to joint property are different in Scotland from those for the rest of the UK. Where we need to highlight these differences we have divided the guidance into subsections.

It is also possible for a person to direct how property is to pass on their death by way of a statutory nomination in writing. The Inheritance Tax consequences (IHTM15102) of nominated property that is part of an estate are also considered in this section.