IHTM30215 - Transfers on death: shares and securities
The remaining four categories of qualifying property are concerned with shares and securities. Of the four categories, only the first, control holdings (IHTM30217), makes instalments available for quoted securities. The remaining three categories are confined to unquoted shares or securities (IHTM30216).
These instructions are only likely to be relevant if the unquoted shares or securities do not qualify for Business Relief (BR) (IHTM25131).
From 6 April 2026, unquoted shares or securities that qualify for BR at 50% (if the qualifying conditions are satisfied) will also qualify for interest free instalments (IHTA84/S227(2)(aa) and IHTA84/S234(1)(a)).
For deaths between 1 April 1996 and 5 April 2026, many unquoted shares or securities qualified for BR at 100%, so instalments will not be relevant, except in cases where the qualifying conditions are not met.