IHTM27264 - Foreign property: specific British Government Securities: exempt securities as partnership assets

Very occasionally the assets of a partnership may include exempt securities which will normally constitute 鈥渆xcepted assets鈥� (see IHTA84/S112) so they will not qualify for Business Relief. In this situation a partner鈥檚 transfer of their interest in the partnership will be excluded property:

  • to the extent that it is attributable to the exempt securities (IHTM27241)
  • and only if it satisfies the conditions specified for the security

You should calculate the amount to be excluded as follows:

(Value of exempt securities 梅 Total value of partnership) 脳 Value of transferor鈥檚 partnership interest