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How inheritance tax is charged ― overview

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance

How inheritance tax is charged ― overview

Produced by a Tolley Trusts and Inheritance Tax expert
Trusts and Inheritance Tax
Guidance
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This guidance note provides an overview of the ‘How IHT is charged’ sub-topic.

An introduction to inheritance tax (IHT)

The An introduction to inheritance tax (IHT) guidance note covers the background to inheritance tax and the basic principles involved, including an outline of the loss to the donor principle and related property rules. The guidance note also distinguishes between chargeable transfers and transfers not subject to inheritance tax and gives an outline of the nil rate band provisions and the cumulation principle.

Occasions of charge

The Occasions of charge guidance note discusses when an IHT charge will be due in lifetime, on death and on settled property. It also covers the commorientes rule where taxpayers die together and the effect of this on the overall IHT charged.

Dispositions that are not transfers of value

The Dispositions that are not transfers of value guidance note discusses the dispositions that are not transfers of value for IHT purposes. Some of these exemptions apply on lifetime transfers only. This note covers

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