If the asset was transferred to trustees and the life tenant dies, the trustees do not have the normal exemption on the death, but the chargeable gain is restricted to the held-over gain. If this is an occasion of charge to Inheritance Tax, a claim can be made under category 4 (see the section disposals that qualify for Hold-over Relief). How to claim Hold-over Relief This rule does not apply on the occasion when a beneficiary becomes absolutely entitled as against the trustee. Example 3

This section applies to gifts to UK charities and certain bodies such as the National Gallery, local authority-maintained art galleries and museums, local authorities and universities. A full list is in Schedule 3 Inheritance Tax Act 1984. in relation to a search undertaken by an AFI, a member of the civilian staff of a police force in England and Wales (including the metropolitan police force), a member of staff of the City of London police force, or a member of staff of the Police Service of Northern Ireland, a senior police officer; [footnote 22]in relation to a search undertaken by an officer of Revenue and Customs, an officer of Revenue and Customs of a rank designated by the Commissioners for Revenue and Customs as equivalent to a police officer of at least the rank of inspector; establish if anything is known about the likely owner(s) or occupier(s) of the premises or someone else entitled to grant entry and the nature of the premises themselves; Prior approval is only likely to be impractical because of the immediacy of the circumstances of the case. This is more likely to be the case in relation to the search of a person or vehicle than the search of premises, but officers should assess each case on its merits. There should be no assumption that approval is impractical for all searches. Officers should carefully consider and record the reasons for any decision not to obtain prior approval. Seeking judicial approval

The officer will need to explain that the search is necessary because they have reasonable grounds to suspect that there is cash that is recoverable property, or is intended for use in unlawful conduct, and that the amount is not less than the minimum amount. If, after obtaining prior approval and when it comes to the time to conduct the search, the grounds on which the officer obtained the prior approval no longer apply, the officer may not exercise the powers.Section 290 requires the officer to obtain prior “appropriate approval” before the exercise of any of the search powers under section 289, unless in the circumstances it is not practical to obtain that approval before exercising the power. “Appropriate approval” means approval from a judicial officer or (if that is not practical in any case) from a “senior officer”. A “judicial officer” is, in relation to England and Wales a justice of the peace; in relation to Northern Ireland, a lay magistrate [footnote 20] and in relation to Scotland, a sheriff.