IHTM34165 - Appropriate person: Sales made by Investment Managers
Sales made by an Investment Manager acting under the terms of an Investment Management agreement are not made by the appropriate person and must be disregarded.
Any sales of shares purchased by an Investment Manager following the initial sale must be disregarded because the sales did not form part of the deceased’s estate at death.
Only sales and purchases made by the Investment Manager acting on the legal personal representative’s instructions are taken into account when arriving at the amount of relief available.