IHTM14823 | Lifetime transfers: associated operations: the objective test

When considering if the associated operations provisions apply to a series of operations (IHTM14826) you should firstly apply the objective test set out in IHTA84/S268(1)(a). To be relevant associated operations for the objective test, the two or more operations must be

• operations which affect the same property, or

• operations, one of which affects some property and the other(s) affects

  • property which represents the first property, or

  • income arising from that property, or property which represents accumulated income from the property.

If the operations do not qualify under the objective test, consider the subjective test. (IHTM14824)