Section 30 Conditionally exempt transfers
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(1) A transfer of value is an exempt transfer to the extent that the value transferred by it is attributable to property—
(a) which, on a claim made for the purpose, is designated by the Treasury under section 31 below, and
(b) with respect to which the requisite undertaking described in that section is given by such person as the Treasury think appropriate in the circumstances of the case [or (where the property is an area of land within subsection (1)(d) of that section) with respect to which the requisite undertakings described in that section are given by such person or persons as the Treasury think appropriate in the circumstances of the case.]1
Amendments
1 Inserted by Finance Act 1985 section 94(1) and Schedule 26 para 1 in relation to events on or after 19 March 1985.
(2) A transfer of value exempt with respect to any property under this section or under section 76 of the Finance Act 1976 is referred to in this Act as a conditionally exempt transfer of that property.
(3) Subsection (1) above shall not apply to a transfer of value other than one which under section 4 above a person makes on his death unless—
(a) the transferor or his spouse [or civil partner]1, or the transferor and his spouse [or civil partner]1 between them, have been beneficially entitled to the property throughout the six years ending with the transfer, or
(b) the transferor acquired the property on a death on the occasion of which there was a transfer of value under section 4 above which was itself a conditionally exempt transfer of the property.
Amendments
1 Inserted by Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229) regulation 11 from 5 December 2005.
(3A) The provisions of this section shall be disregarded in determining under section 3A above whether a transfer of value is a potentially exempt transfer.
Amendments
Subs (3A) inserted Finance Act 1986 section 101 and Schedule 19 para 7 with respect to transfers of value made, and other events occurring, on or after 18 March 1986.
(3B) No claim may be made under subsection (1) above with respect to a potentially exempt transfer until the transferor has died.
Amendments
Subs (3B) inserted Finance Act 1986 section 101 and Schedule 19 para 7 with respect to transfers of value made, and other events occurring, on or after 18 March 1986.
(3C) Subsection (1) above shall not apply to a potentially exempt transfer to the extent that the value transferred by it is attributable to property which has been disposed of by sale during the period beginning with the date of the transfer and ending with the death of the transferor.
Amendments
Subs (3C) inserted Finance Act 1986 section 101 and Schedule 19 para 7 with respect to transfers of value made, and other events occurring, on or after 18 March 1986.
(4) Subsection (1) above does not apply to a transfer of value to the extent to which it is an exempt transfer under section 18 or 23 above.
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