# Inheritance Tax Act 1984, Section 164: Transferor’s expenses.


In determining the value transferred by a transfer of value, expenses incurred by the transferor in making the transfer (but not his liability for inheritance tax)—
(a) shall, if borne by him, be left out of account;
(b) shall, if borne by a person benefiting from the transfer, be treated as reducing the value transferred.

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Source: https://www.legislation.gov.uk/ukpga/1984/51/section/164 (the official version)
Page: https://openlegislation.uk/inheritance-tax-act-1984/section-164
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.