The rate of IHT chargeable is determined by reference to the circumstances of the 'relevant person', who is not necessarily the person who made the last conditionally exempt transfer before the chargeable event. That person is not the person who is liable for the tax1.
Three rules apply:
- Ìý
(a)ÌýÌýÌýÌý if there has been only one conditionally exempt transfer of the property before the chargeable event, the person who made it is the relevant person
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(b)ÌýÌýÌýÌý if there has been more than one conditionally exempt transfer before the chargeable event and:
- Ìý
–ÌýÌýÌýÌý the last one was made more
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Web page updated on 17 Mar 2025 16:59