Section 25 | Gifts for national purposes, etc.
From legislation.gov.uk
(1)A transfer of value is an exempt transfer to the extent that the value transferred by it is attributable to property which becomes the property of a body within Schedule 3 to this Act.
(2)Subsections (2) to (5) of section 23 and subsection (4) of section 24 above shall apply in relation to subsection (1) above as they apply in relation to section 24(1), except that section 23(3) shall not prevent subsection (1) above from applying in relation to property consisting of the benefit of an agreement restricting the use of land.
(3)A transfer of value is an exempt transfer to the extent that the value transferred by it is attributable to property that is being transferred in the circumstances described in paragraph 1 of Schedule 14 to the Finance Act 2012 (gifts to the nation).F1
(4)To the extent that the value transferred by a transfer of value made on the death of a member of a pension scheme is attributable to the member’s notional pension property—F2
(a)the value transferred is treated for the purposes of this section as also attributable to any property that on the death of the member is given under the scheme—F2
(i)to a body within Schedule 3, orF2
(ii)in the circumstances described in paragraph 1 of Schedule 14 to the Finance Act 2012 (gifts to nation), andF2
(b)section 23(2) does not (despite subsection (2)) apply in relation to subsection (1).F2