SCHEDULES:

SCHEDULE 10 Valuation

PART I —General

Incidental expenses incurred by transferor
6 In determining the value transferred by a transfer of value, expenses incurred by the transferor in making the transfer (but not his liability for 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.