The value transferred is subject to available exemptions, allowances and reliefs. Details of these are set out below.
Exemptions
Some transfers of value are exempt for lifetime transfers. These are shown below:
| Exempt transfer | IHTA 1984 Legislative reference | Available in lifetime | Available on death | Simon's Taxes coverage |
| To a spouse or civil partner | IHTA 1984, s 18 | Yes | Yes | I3.332 |
| Within the £3,000 annual exemption | IHTA 1984, s 19 | Yes | No | ±õ3.322–I3.323´¡ |
| Small gifts of £250 to any one person in a |
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