{
  "url": "https://openlegislation.uk/inheritance-tax-act-1984/section-10",
  "json_url": "https://openlegislation.uk/inheritance-tax-act-1984/section-10.json",
  "legislation": "ukpga/1984/51",
  "legislation_title": "Inheritance Tax Act 1984",
  "legislation_url": "https://openlegislation.uk/inheritance-tax-act-1984",
  "path": "section/10",
  "kind": "section",
  "number": "10",
  "heading": "Dispositions not intended to confer gratuitous benefit.",
  "text": "(1) A disposition is not a transfer of value if it is shown that it was not intended, and was not made in a transaction intended, to confer any gratuitous benefit on any person and either—\n(a) that it was made in a transaction at arm’s length between persons not connected with each other, or\n(b) that it was such as might be expected to be made in a transaction at arm’s length between persons not connected with each other.\n(2) Subsection (1) above shall not apply to a sale of unquoted shares or unquoted debentures unless it is shown that the sale was at a price freely negotiated at the time of the sale or at a price such as might be expected to have been freely negotiated at the time of the sale.\n(3) In this section—\n“disposition” includes anything treated as a disposition by virtue of section 3(3) above;\n“transaction” includes a series of transactions and any associated operations.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Finance Act 1987 Sch. 8, para. 1,with effect from 17March 1987.Originally“shares or debentures not quoted on a recognised stock exchange”."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1984/51/section/10",
    "retrieved_at": "2026-10-29T10:01:12.914001+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}