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IHTA84/S262 provides the machinery for charging tax in cases where a disposition is made

• for partial consideration and
• the transferor satisfies their part of the bargain wholly or partly more than a year after it is made.

Each payment made by the transferor, or each transfer of assets by him, is treated as a separate disposition and is taxed accordingly. But the value transferred will not necessarily be equal to the amount paid or to the value of the asset transferred. »Ê¹ÚÌåÓýapp example at IHTM14872 shows how the chargeable part of each disposition is established.