Schedule 4
Finance Bill
12:30 pm
David Gauke (Shadow Minister, Treasury; South West Hertfordshire, Conservative)
I am grateful to the hon. Gentleman—I think. He may help me to explain my point. In the case of a gift that does not benefit from the transferable nil-rate band, it is possible, although I do not want to press this interpretation too hard, that the benefit gained from the transferable nil-rate band would only apply with regard to the estate on death, and not with regard to a lifetime gift. I do not think that that is the Government’s intention.